|Name: _________________________||Period: ___________________|
This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 4.
Multiple Choice Questions
1. What should the amount started with at the beginning of the month, plus total income, minus total expenses equal?
(a) The amount shown on a bank statement.
(b) The amount of money they have left at the end of the month.
(c) Net worth.
(d) Gross income.
2. What do the authors suggest that people divide their spending into?
(a) Categories defined in Chapter 3.
(b) Three columns.
(c) Categories determined by life energy.
(d) Categories that make sense for them.
3. What is the purpose of dividing income and expenses into categories?
(a) To determine if enough money will be available for retirement.
(b) To decide if a career change is warranted.
(c) To judge whether expenses are worth the life energy spent.
(d) To determine net worth.
4. Earning, saving, and spending money are part of which perspective?
(b) Life energy.
(d) Emotional and psychological.
5. What allows people to enjoy their planet, community, and spirituality more than ever before?
(b) Being green.
(c) Taking more vacations.
(d) Living frugally.
Short Answer Questions
1. What determines mastery of Step 3?
2. What is the state of having enough to spend in order to purchase just enough?
3. What are piggy banks and cookie jars examples of?
4. What does Question 2 help people to figure out?
5. Why should readers not use premade categories from other budget books?
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