|Name: _________________________||Period: ___________________|
This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 4.
Multiple Choice Questions
1. Why should readers not use premade categories from other budget books?
(a) Everyone has different spending habits.
(b) Other budget books are inferior.
(c) Some categories may be out of date.
(d) Some categories are difficult to track.
2. What items are included in everything owned?
(a) Estimated current sale price of all items currently owned, plus other assets such as cash and investments.
(b) Add together everything owned, then subtract everything owed.
(c) All items purchased during a lifetime.
(d) All items in the garage and basement.
3. What is an important aspect of the second half of Step 2?
(a) Saving as much money as possible.
(b) Tracking net worth.
(c) Saving life energy.
(d) Not feeling shame or blame.
4. What is the real amount of life energy?
(a) The real number of hours of life used to make purchases.
(b) Total energy spent per week.
(c) The number of years remaining in an average lifetime.
(d) Number of hours worked minus number of hours at leisure.
5. Why should people ask themselves how they can help others to avoid pain they have experienced?
(a) To find a new career option.
(b) To take their minds off their financial issues.
(c) To determine their real purpose in life.
(d) To reduce stress.
Short Answer Questions
1. What is the term for the unnecessary things, activities, and noise in our lives?
2. Why should people not budget their money?
3. Which perspective is the notion of "keeping up with the neighbors" part of?
4. What do the authors suggest that people divide their spending into?
5. Some people reach the top of their profession and make good money, yet are still not what?
This section contains 313 words
(approx. 2 pages at 300 words per page)