Budgeting
Best Buys
Miscellaneous
100
What is true about building a budget?
a. You can’t use a budget to plan for emergencies
b. You should only budget when you are in a bad situation
c. You MUST save a lot of money
d. it is simply a plan for your expenses
D
100
Oftentimes customers can save money by
a. shopping at convenience stores.
b. buying items in small quantities.
c. not taking the time to comparison shop.
d. buying items in large quantities or from discount stores.
D
100
What are the correct spending recommendations from the book? (Select all that apply!)
a. Spend no more than 60% on a car
b. 10-20% on savings/Investments
c. Spend 25-30% on housing
d. 50% on savings/Investments
B & C
200
What is the biggest problem with this spending for the week?
Too much eating out
200
One radial tire sells for $100. A set of 4 is priced at $325. How much would you save if you bought a set of 4 now instead of one tire at a time over the next few months?
$75
200
What are some of the 7 baby steps to financial freedom from Dave Ramsey? (Select all that apply!)
a. Remember to give
b. Save for a $5000 emergency fund
c. Pay yourself first
d. Let your investments pay off your home
a
300
How much did he spend on food for the week?
$89.50
300
You can buy a large box of Kroger Chips with 40 bags in it for $15 or 2 small boxes of Doritos with 20 bags in each for $9 per box. Which brand costs less per bag? How much less per bag are they to the nearest tenth of a cent?
Kroger is 44.4 Cents cheaper
300
Justin makes $2000 a month and had budgeted 10% for food. How much does he have budgeted for food?
$200
400
If she spent this much at the movies each week, how much would she spend in a year?
$2080
400
Jim, George, and Bill all want to buy spotify premium. They are wondering if they can save money by splitting the cost to a family account instead of buying individual accounts. The individual account is $10 / month and the family account is $32 / month. Which option would be cheaper for them and by how much?
Individual account would be $2 cheaper
400
Jane makes $5000 a month and spends 30% of her income on housing. How much does she spend on her housing?
$1500
500
If somebody spends an average of $95 a week on gas, how much would they spend in a year?
$4940
500
Randy tills his garden once each year. He rents a garden tiller for $40 per day to do the job. It usually takes him 2 days to do the job. He sees a sale on a tiller for $75. Would it be cheaper to rent or buy for the first year?
$5 cheaper to buy
500
Timothy makes $5750 a month and saves $1265 a month. What percent of his income does he save each month?
22%