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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 7.

Multiple Choice Questions

1. Why should readers not use premade categories from other budget books?
(a) Other budget books are inferior.
(b) Some categories are difficult to track.
(c) Some categories may be out of date.
(d) Everyone has different spending habits.

2. What encourages family, friends, and neighbors to support the participant's goals in following this program?
(a) Making wall charts for them to use.
(b) Placing the wall chart in a public place.
(c) Making retirement plans with them.
(d) Asking them for a loan.

3. What should people be willing to do?
(a) Sacrifice income for a job that matches a passion.
(b) Sacrifice family time for more income.
(c) Work for what they want.
(d) Work more than 40 hours per week.

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

5. What should the amount started with at the beginning of the month, plus total income, minus total expenses equal?
(a) The amount of money they have left at the end of the month.
(b) Net worth.
(c) Gross income.
(d) The amount shown on a bank statement.

Short Answer Questions

1. What must people do in order to make Step 3 work?

2. What is the most important strategy in following Step 7?

3. People should spend only until they are fulfilled, just as they should do what?

4. What is the final part of Step 3?

5. What do the authors suggest that people divide their spending into?

(see the answer key)

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