Question

1. although the majority of americans think budgeting is important, about ______ of americans actually use a budget.

a. 75% b. 50% c. 23% d. 35%

1. which of the following is not a component of a budget?

a. credit score b. saving c. income d. giving

1. online budgeting apps are more effective than budgeting with pen and paper.

a. true b. false

1. what are the four walls?

a. utilities, college fund, restaurants, and car insurance c. food, utilities, transportation, and college fund
b. cell phone bill, car insurance, shelter, and money for the movies d. food, utilities, shelter, and transportation

1. how many categories should you have in your budget?

a. 15 or more c. no more than 10
b. no limit; use as many as you need to keep your budget accurate! d. at least 3

1. how often should you create a budget?

a. daily c. monthly
b. weekly d. biannually

1. if you get married, only one person is responsible for budgeting.

a. true b. false

1. what does a budget show you?

a. how much you need to save c. how much money you need to earn
b. how much money you plan to come in and go out during the month d. how much money you spent last month

Explanation:

Question 1

To answer this, we recall financial literacy data: about 35% of Americans use a budget despite most thinking it's important.

A budget's components include income, saving, giving, etc. A credit score reflects creditworthiness, not a budget component.

Effectiveness of budgeting tools depends on user, but research/financial advice shows no inherent superiority of apps over pen - paper; it's about consistency. So the statement is false.

Answer:

D. 35%

Question 2