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Budgeting Quiz

Money Smart for Teens
Budgeting for Teens
Budgeting Quiz

Are You Money Smart about Budgeting?

Jassby butterfly logo Let’s take a quiz to see if you’ve learned everything you need to know about budgeting.

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Question 1 of 10

1. Question

Which of these is not a source of income?

Allowance
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Bill for your smartphone
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Cash received for your birthday
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Babysitting money
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Question 2 of 10

2. Question

How much of your income should you spend each month?

No more than 25%
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No more than 50%
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No more than 75%
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No more than 100%
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Question 3 of 10

3. Question

True or false: Free cash flow is another name for savings.

True
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False
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Question 4 of 10

4. Question

What’s the best way to set an expense target?

Find your highest monthly spending amount and match it
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Find your lowest monthly spending amount and match it
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Take an average of 3 months of spending
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Guess
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Question 5 of 10

5. Question

How much income should you save each month?

1-2%
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5-10%
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20-25%
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Whatever you have left at the end of each month
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Question 6 of 10

6. Question

True or false: As you get older, there are two types of necessary expenses.

True
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False
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Question 7 of 10

7. Question

What is a discretionary expense?

A need
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A want
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Question 8 of 10

8. Question

Where is the first place to look to if you want to find a free budgeting tool once you become an adult?

Your home computer
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The app store
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Your parents
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Your bank
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Question 9 of 10

9. Question

Which of the following is not a necessary expense?

In-game app purchases
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Lunch money
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School supplies
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Gas money
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Question 10 of 10

10. Question

What can you do if you consistently overspend on an expense?

Cut back on your spending
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Reduce another expense to make up the difference
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Adjust the target so it's higher
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All of the above
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