EVERFI Module 3 Budgeting Study Guide Questions and Correct Answers
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Course
NU1426
Institution
NU1426
EVERFI Module 3 - Budgeting Study Guide Questions and Correct Answers
Which of the following is a benefit of using a budget?
a. Helps to keep track of the money you receive
b. Helps to prioritize your spending
c. Helps reach short- and long-term financial goals
d. All of the above
Which of th...
EVERFI Module 3 - Budgeting Study Guide
Questions and Correct Answers
1). Which of the following is a benefit of using a budget?
a. helps to keep track of the money you receive
b. helps to prioritize your spending
c. helps reach short- and long-term financial goals
d. all of the above
Ans: d
2). Which of the following is not a benefit of using a budget?
a. a budget can help you purchase anything you want.
b. a budget can help you keep track of your money.
c. a budget can help you make plans to reach your financial goal.
d. a budget can help you decide the importance of your expenses.
Ans: a
3). Why is using a budget beneficial?
a. helps to keep track of the money you receive.
b. helps to prioritize your spending.
c. helps reach short- and long-term financial goals.
d. all of the above.
Ans: d
4). Which of the following should not be considered when setting a current budget?
a. your financial goals
b. future income
c. needs and wants
d. savings
Ans: b
5). Which of the following should you consider when setting a budget?
a. your financial goals
b. needs and wants
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, c. savings
d. all the above
Ans: d
6). What should be considered when setting a budget?
a. needs and wants
b. savings
c. time management goals
d. needs, wants, and savings
Ans: d
7). ______________ are good places to look to find your current expenses when building your
budget.
a. banks and credit unions
b. grocery stores and concerts
c. banks and credit statements
d. online research websites
Ans: c
8). Where should you look to find our current expenses when building your budget?
a. ask your parents
b. your wallet
c. bank and credit statements
d. your bank representative
Ans: c
9). Bank statements, credit statements, and records of cash expenses help you to estimate
your __________________.
a. credit score
b. emergency fund needs
c. expenses
d. available investments
Ans: c
10). In addition to needs, what should you plan for first when creating a budget?
a. possible charitable donations
b. shopping money
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