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Test your understanding with targeted questions related to the topic.
Question 1
Easy
Define budgeting in one sentence.
π‘ Hint: Think about how you manage your finances.
Question 2
Easy
List an example of a need and a want.
π‘ Hint: Consider what is essential vs. what is desired.
Practice 4 more questions and get performance evaluation
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is budgeting?
π‘ Hint: Consider the overall purpose of a budget.
Question 2
True or False: Needs and wants are the same.
π‘ Hint: Think about basic survival requirements.
Solve 1 more question and get performance evaluation
Push your limits with challenges.
Question 1
You have a monthly income of $3,000. Your fixed expenses are $1,500 for rent, $300 for utilities, and $400 for food. How much can you allocate for savings and discretionary spending after fixed expenses?
π‘ Hint: First calculate total fixed expenses before subtracting from income.
Question 2
If your budget shows you are frequently overspending on restaurants, what steps can you take to adjust your budget?
π‘ Hint: Think about alternative spending or how to reduce expenses.
Challenge and get performance evaluation