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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 6.

Multiple Choice Questions

1. What should frugal people research before purchasing items?
(a) Color, style, and multiple use.
(b) Popularity, quality, durability, and multiple use.
(c) Value, quality, and availability.
(d) Value, quality, durability, and multiple use.

2. What is Step 1, Part 2 of the program?
(a) Determine how much money has been earned so far in a lifetime.
(b) Declutter the garage and basement.
(c) Determine net worth.
(d) List everything owned.

3. What is the final part of Step 3?
(a) Figuring out how much life energy went into each expenditure.
(b) Figuring out how much life energy remains.
(c) Determining net worth.
(d) Choosing expenses to eliminate.

4. Which perspective is the notion of "keeping up with the neighbors" part of?
(a) Inflation.
(b) Step 2.
(c) Emotional and psychological.
(d) Personal responsibility and transformation.

5. According to many Americans, what is considered a sin?
(a) Just sitting around and enjoying life.
(b) Working too much.
(c) Spending too much.
(d) Buying low, selling high.

Short Answer Questions

1. What percentage of useful life objects could people add if they were not so anxious to replace them?

2. Why do people buy more than they need?

3. People should have enough savings to cover expenses for how long?

4. Taking care of possessions and avoiding shopping are part of which list?

5. Which perspective of money should readers embrace?

(see the answer key)

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