8 - Money Management
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Practice Questions
Test your understanding with targeted questions
Define budgeting in one sentence.
💡 Hint: Think about how you manage your finances.
List an example of a need and a want.
💡 Hint: Consider what is essential vs. what is desired.
4 more questions available
Interactive Quizzes
Quick quizzes to reinforce your learning
What is budgeting?
💡 Hint: Consider the overall purpose of a budget.
True or False: Needs and wants are the same.
💡 Hint: Think about basic survival requirements.
1 more question available
Challenge Problems
Push your limits with advanced challenges
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?
💡 Hint: First calculate total fixed expenses before subtracting from income.
If your budget shows you are frequently overspending on restaurants, what steps can you take to adjust your budget?
💡 Hint: Think about alternative spending or how to reduce expenses.
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Reference links
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