VYC1 Module Quizzes with COMPLETE SOLUTION 2022

Which activity is NOT part of the personal budgeting process? (M01) A) Defining goals B) Monitoring outcomes C) Increasing income D) Redefining goals - Answer: C Correct! Increasing income is not part of the budgeting process, although it may cause an adjustment to the budget. In terms of budgeting, which goal and behavior work best together? (M01) A) The goal is to purchase a home. The behavior is saving 5% of your earnings for a down payment. B) The goal is to reduce living expenses. The behavior is buying a luxury home. C) The goal is to save money for school. The behavior is eating dinner out five days a week. D) The goal is paying off college loans. The behavior is getting a part-time job and using that money to pay for a vacation. - Answer: A Correct! The behavior of saving part of your earnings for a down payment is well-aligned with the goal of purchasing a home.