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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 3.

Multiple Choice Questions

1. What are "gazingus pins?"
(a) Clips to attach spending charts to refrigerators or bulletin boards.
(b) Any items the reader has an unreasonable amount of, due to habitual shopping.
(c) Pins to attach to a spending chart to indicate unnecessary expenses.
(d) Larger-than-standard pins.

2. How is net worth determined?
(a) Add together everything owned, then subtract everything owed.
(b) All items purchased during a lifetime.
(c) Estimated current sale price of all items currently owned, plus other assets such as cash and investments.
(d) Multiply monthly income by 12.

3. On average, what do Americans have more of than ever before?
(a) Children.
(b) Education.
(c) Savings.
(d) Debt.

4. What do the authors suggest that people divide their spending into?
(a) Categories defined in Chapter 3.
(b) Three columns.
(c) Categories that make sense for them.
(d) Categories determined by life energy.

5. What is budgeting similar to?
(a) Dieting.
(b) Mathematics.
(c) Reducing income.
(d) Filing taxes.

Short Answer Questions

1. What is the key to good spending habits?

2. What have many people been told by parents and guidance counselors?

3. Why are vacations considered to be a work expense?

4. Why do many people give up time with family, working on hobbies, and fulfilling dreams?

5. What will eventually run out?

(see the answer key)

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