Finance Questions
Explore questions in the Finance category that you can ask Spark.E!
The best way to budget is...A. On paperB. The way that works best for youC. Creating a spreadsheet D. By using a digital app
What should you do if you overspend in one category of your budget? A. Adjust your budget by removing money from other spending categories. B. Just leave it. It will probably work out fine. C. Ask a friend for the money you overspent. D. Take money from the Giving category. You're giving to yourself!
When is the right time to start creating and living by a budget?
A common misconception is that budgeting will keep you from having fun, when in reality a budget...
TRUE or FALSE: Your monthly rent payment is an example of a variable expense.
Your money personality can affect your _____. A. Ability to budget B. Personal values C. Choice of bank D. Attitude toward budgeting
Why is budgeting so important? A. It helps you brush up on your math skills. B. It gives you control of your money and sets you up for financial success in the future.C. It helps you figure out the best way to justify purchases that maybe aren't necessary. D. It's a good way to make sure all your money is spent by the end of the month.
What is a good way to make sure you're creating a budget that's realistic?A. Make sure you have enough money in your savings account to pull from if you overspend. B. Check your calendar so you can plan for upcoming monthly expenses. C. Make sure your budget is perfect before starting. D. If it isn't just right, don't use it. Make sure you create a budget every single day.
Research shows that nearly half of Americans 46% feel stress and anxiety about the amount of ______ they have.
The purpose of an emergency fund is to...A. Teach you discipline—saving is purely a good exercise in self-control.B. Teach you how to invest in growth stock mutual funds.C. Have some extra money in a checking account in case you need to transfer some to your spending categories.D. Be able to cover an unexpected expense with cash and protect you from having to pile up debt when something goes wrong.
TRUE or FALSE: If you get married, only one person is responsible for budgeting.
Compound interest is earned at a fixed rate, while ________ is an average based on an investment's past performance.A. Compound growthB. The Fifth FoundationC. Interest rateD. The principal
Which two habits are the most important for building wealth and becoming a millionaire?A. Working a high-paying job and relying on a trust fundB. Investing into the right stocks and using a private CPAC. Consistently investing money and patience to give it time to growD. Always paying off your credit card on time and putting extra money into a retirement account
One of the main reasons we build wealth is so that we can . . . A. Give to those in needB. Spend it all on ourselvesC. Impress the people around usD. Prove that we are successful
TRUE OR FALSE: Debt is a tool to use to make you wealthy.
Which of the following is NOT a component of a budget? A. GivingB. IncomeC. SavingD. Credit score
What is the goal of an emergency fund?A. To pay for large purchasesB. To save for your children's college expensesC. To have cash on hand for unexpected eventsD. To pay for health insurance
How often should you create a budget?A. DailyB. WeeklyC. MonthlyD. Biannually
What is the Third Foundation?A. Create a monthly budget.B. Save for retirement.C. Pay cash for college.D. Pay cash for your car.
TRUE OR FALSE: 90% of millionaires make over $100,000 a year.