Definitions
How to budget
Tips on budgeting
True or False
Wild Card
100
Money received on a regular basis from a job. Weekly or Bi weekly.
Income
100
What is the first step in creating a budget?
Calculate your total monthly income
100
When creating a budget you need to be ___ when setting a goal (Choose one: Realistic, Unrealistic, or hazardous)
Realistic
100
Budgeting requires sacrificing all luxuries and entertainment
False
100
Who is the actor that plays Deadpool?
Ryan Reynolds.
200
Money spent on goods and services including bills, groceries, and entertainment.
Expenses
200
What does it mean to "pay yourself first” in budgeting?
Put money in savings before you pay your bills.
200
Why is budgeting important?
To help you better manage your money, keep track of spending, save, etc.
200
Budgeting helps individuals prioritize their spending based on their goals
True
200
How many Star Wars movies are there?
12.
300
Keeping track of how much you earn and how much you spend.
Budgeting
300
How can you track your expenses to create a budget?
Keep receipts, use budgeting apps, or log expenses in a spreadsheet
300
What are some examples of things you can use your savings for?
Emergency fund, retirement, investments, short-term goals, and long-term goals
300
True or False. You should revisit and recalculate your budget when you have been budgeting for a while. Wrong answer rewards the other team automatically.
True
300
What comic first introduced Batman in 1939?.
400
Money set aside for future use or emergencies. Opposite of Checking.
Savings
400
What is the budgeting strategy that divides your budget into three categories(percentages)?
The 50/30/20 budget
400
Two things you need to consider when budgeting.
Wants and needs
400
The 50/30/20 rule is when you put 50% of your money towards wants, 30% towards savings, and 20% towards needs.
False
400
In the Lord of the Rings, who brings the ring to Mordor?
Frodo Baggins.
500
Budget strategy where you use every dollar of income to pay your bills and debt first
Zero based budgeting
500
What are the three categories for 50/20/30 method of budgeting? (125 points for each correct category or 500 points for all three.)
50- Bills, 20-Savings, 30- whatever you want
500
We are never too (Choose one: young or old) to save for retirement
Young.
500
Creating a budget is when you calculate your monthly income, pick a budgeting method and monitor your progress.
True
500
Who is the final boss in Zelda 2: Links Awakening?
Dark Link.