Section 10

Question 1

Telling money where to go rather than wondering where it went

Answer 1

Budgeting

Question 2

3 positive actions to help with it

Answer 2

1. earn more money
2. spend less
3. sell unneeded assets

Question 3

3 negative actions to help with it

Answer 3

1. eliminate certain saving/giving
2. stretch certain debt payments
3. use a credit card or line of credit to cover negative income
4. make lifestyle changes

Question 4

Which of the following are characteristics of the envelope system?
A. It helps prevent overspending in each budgeted category.
B. It’s a complicated system involving sophisticated financial techniques.
C. It’s an effective way to help stay on budget.

Answer 4

A and C

Question 5

Financial success is ____ due to our _____

Answer 5

80% ; behavior

Question 6

3 most common causes for overspending

Answer 6

1. impulse spending
2. habit spending
3. addictive spending

Question 7

Impulse spending

Answer 7

get definition from quiz

Question 8

habit spending

Answer 8

get definition from quiz

Question 9

addictive spending

Answer 9

get definition from quiz

Question 10

Get question from quiz

Answer 10

decision map