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Which of these costs would be the MOST difficult to adjust if you were looking to reduce your expenses?
Loan payment on a new car
Dining out at local restaurants
Expenses for new clothes
Postponing a purchase for a big-screen TV
If you are trying to substantially reduce the amount you spend on food, you should try...
Cooking your own food at home for as many meals as possible
Eating out more often so you don't waste water on dishes
Drinking more coffee and soda so you are not as hungry
Eating more snacks on the go and way fewer meals at home
Greg is trying to decide whether he needs a car when he moves to the city. Which of the following would be a reason for Greg to get a car rather than use public transportation?
Using public transportation,Greg’s commute is 2 hrs each way
There are several public transportation routes
Greg’s company pays half the cost of his monthly trans pass
The cost of public transportation is less than his car pymt
How do you calculate unit price for an item?
Number of items divided by cost
Cost divided by number of items
Isaiah has a summer internship at a technology company and is paid $3,000. After Federal and state taxes, Social Security, and Medicare are deducted, his take-home pay is $2,500. Which of the statements below is correct?
His gross pay is $3,000 and net pay is $2,500
His gross pay is $2,500 and net pay is $3,000
You are putting together your first post-graduation budget. Your net pay is $2,500 per month and you estimate that your monthly expenses will be $2,625. Which of the following is TRUE?
You have an extra $125 each mo. that you can spend on wants
You need to cut back on your spending or make more money
You are interested in renting an apartment after graduating college. You meet with the landlord and complete the application. All of the following may need to be provided when you sign your lease EXCEPT
A bank account
A security deposit
First and last month's rent
All of the following are good budgeting strategies if you want to save money at the grocery store EXCEPT:
Preparing a grocery list before you go to the store
Focusing on unit price when comparing similar products
Focusing only on the price when comparing similar products
Weekly plan around items you already own or on sale
For two months in a row, Aaron realizes he has gone over budget by roughly $175. Which of these options makes the most sense for him to fix his problem?
Pay only the minimum monthly payment on his credit card
Contribute $175 less to savings each month
Cancel one streaming video subscriptions and eat out less
You're considering moving into a 3 bedroom apartment with 2 roommates, rather than living on your own post-college. Which of your expenses would likely decrease by having roommates?
Groceries and eating out
rent
Cell phone bill
Which one of these expenses most likely represents a VARIABLE cost in someone's budget?
Car insurance premium
Rent
Student loan payment
Electricity bill
What action corresponds to the advice "Pay yourself first?"
Wait until the end of the month to put money in savings
Put part of your paycheck into savings right away
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
Being open early in the morning and late at night
Which statement accurately describes how the 50/20/30 Rule would break down your take-home pay?
50% on needs, 20% on saving, and 30% on wants
50% on saving, 20% on wants, and 30% on needs
50% on wants, 20% on saving, and 30% on needs
