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1.3 Why do we budget and how to set goals

Next, you will learn the significance and everyday implications of budgeting. We will introduce you to valuable applications you can use to help you stay on track with your budgeting goals. Lastly, we emphasize the importance of creating feasible budgeting goals. At the end, you will watch a quick YouTube video that will prepare you for the end-of-chapter quiz.


Watch the YouTube before doing the quiz


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1.3 Budgeting Quiz

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1. What is the mint app?

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2. Is this a feasible goal: I will eat one meal a day to save up for a car. 

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3. Is this a feasible goal: I will save 60% of my paychecks for the next 5 months to save up for a jacket.

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4. Is this a feasible goal: To get a full 8 hours of sleep every night I will turn off my phone at 10 and sleep at 10:30 for the next 3 months.

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5. What is not a reason to use your emergency fund?

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The average score is 60%