How Well Do You Know Your Budget?

Challenge yourself with our budgeting quiz. Learn how to save effectively, track expenses, manage EMIs, subscriptions, and create a healthy personal budget.

Question 1 of 12

Q1. Are subscriptions part of recurring expenses?

A No, they are one-time

B Only annual subscriptions

C Yes, they are recurring monthly or yearly payments

D Only paid by credit card

Q1. Should debt be included in monthly budget?

A No, ignore debt

B Only for small debts

C Yes, include all repayments

D Only credit card debt

Q1. What is a zero-based budget?

A Budget with no income

B Budget without savings

C Every dollar of income is allocated to expenses or savings

D Budget for fixed expenses only

Q1. How can EMI affect your budget?

A Increases income

B Has no effect

C Reduces disposable income for other expenses

D Only affects taxes

Q1. How often should a budget be reviewed?

A Never

B Every 5 years

C Monthly or quarterly

D Only at year-end

Q1. Which expense is usually fixed?

A Dining out

B Shopping

C Rent or mortgage

D Entertainment

Q1. How to reduce overspending on groceries?

A Buy everything you see

B Ignore the budget

C Plan shopping list and track expenses

D Only shop online

Q1. What percentage of income should go into savings?

A 5%

B 20%

C 50%

D 100%

Q1. What is an expense tracker?

A Calculator for savings

B Tool to track spending and manage budget

C Loan EMI calculator

D Investment planner

Q1. Should emergency fund be separate?

A No, include in regular savings

B Only for large purchases

C Yes, to cover unexpected expenses

D Only for debt repayment

Q1. Difference between gross and net income?

A Gross = after tax, Net = before tax

B Gross = only salary, Net = salary + bonuses

C Gross = total income before deductions, Net = income after deductions

D No difference

Q1. What is discretionary spending?

A Loan repayment

B Non-essential spending like entertainment or dining

C Monthly bills

D Taxes

Quiz Complete

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6/8

Correct Answer

Accuracy Rate 50%

Wrong Answers 5/8

Home Quiz

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How Well Do You Know Your Budget?

Result

Quiz Complete

6/8