The defining characteristic of a job in the gig economy is...

Workers complete short-term work for many different clients

Which location is likely to have the HIGHEST cost of living?

A city with healthcare, pro sports team, public transportation

Which of these items would most people agree to be a NEED?

Safe, reliable childcare for a single parent

One benefit of buying a car vs. leasing is...

You can build up trade-in or resale value

When renting an apartment, why is it important to have a written lease?

It clearly states the apartment costs and expectations

One way the grocery store tricks you into spending more money than you budgeted for is...

Putting high priced items at eye level

Jay uses an Envelope Budget and has just received his paycheck. How much cash should he take out?

Enough to cover his variable expenses

Why is it important that freelancers have an emergency fund?

they don't have guaranteed work every day

Which person's income will show an increase in the next pay period?

a city bus driver, who works two extra shifts

One benefit of buying a USED car is...

Lower acquisition (buying) price

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Budgeting Review Part 2

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Questions 12

Answers

1
Following a 50/30/20 with a pay of $1000, how much is budgeted for WANTS?
$1000
$200
$500
$300
2
The defining characteristic of a job in the gig economy is...
Workers receive free phones and wifi connections
Workers complete short-term work for many different clients
Workers decide how much they want to pay in taxes
Workers are paid by the federal government
3
Which location is likely to have the HIGHEST cost of living?
A college town located 5 hours from the nearest big city
A rural area with a population of 6000 people
A city with healthcare, pro sports team, public transportation
A city with a high crime rate and decreased population
4
Which of these items would most people agree to be a NEED?
A new cell phone every two years for a college student
Safe, reliable childcare for a single parent
Three weeks of vacation for a corporate executive
Stylish clothes for a teenager
5
One benefit of buying a car vs. leasing is...
The car will have better safety ratings
You can build up trade-in or resale value
You'll have higher monthly payments than a lease
You're always protected by a warranty
6
When renting an apartment, why is it important to have a written lease?
a renter won't know how much to budget for rent and other expenses
Signing a lease provides you with free or discounted renters insurance
It clearly states the apartment costs and expectations
It is against the law to live somewhere without a lease
7
Which car loan term will save you the most money?
72 months/$150 a month
12 months/$350 a month
36 months/$200 a month
24 months/$300 a month
8
One way the grocery store tricks you into spending more money than you budgeted for is...
Putting high priced items at eye level
Paying their cashiers and baggers more
Accepting digital and print coupons
Being open early in the morning and late at night
9
Jay uses an Envelope Budget and has just received his paycheck. How much cash should he take out?
None -- he is trying to save money!
Enough to cover his variable expenses
A tiny bit to spend on wants-he can always go to the ATM
Enough to cover his fixed expenses
10
Why is it important that freelancers have an emergency fund?
they don't have guaranteed work every day
to make monthly insurance payments
to pay for expensive specialty equipment that may need replacing
They charge a very low hourly rate
11
Which person's income will show an increase in the next pay period?
Becca, a teacher, who stays after school each day
A self-employed furniture maker, who works weekends
a marketing manager, who works 3 hours Thursdays
a city bus driver, who works two extra shifts
12
One benefit of buying a USED car is...
More depreciation
Limited/No warranty
Lower acquisition (buying) price
Lower maintenance and gas costs

Budgeting Review Part 2 Flashcards | StudBud