1. Lisa is a single working mother with one child.The following is a breakdown of her expenses for this mont?

1. Lisa is a singular operative mom with a singular child. The following is a relapse of her losses for this month:

rent $800
electricity $50
natural gas $25
home phone $25
satellite TV $100
car remuneration (daily use) $200
motorcycle remuneration (recreational use) $200
cell phone: (including overages) $100
credit label payments $200
child caring (so she can work) $400
baby-sitting (so she can go clubbing or biking upon weekends) $200
groceries $300
restaurants $200
clubbing (cover charges, drinks, etc.) $150

Assuming these have been Lisa’s usually expenditures, work out her sum losses for a month. (1 point)
$2950
$2000
$950
$1200
2. Assuming these have been Lisa’s usually expenditures, work out her optional expenditures for a month. (1 point)
$1750
$750
$1200
$950
3. Assuming these have been Lisa’s usually expenditures, work out her monthly bound expenses. (1 point)
$1800
$2950
$2000
$2100
4. Which of a following might be a optional responsibility which is not enclosed upon Lisa’s list? (1 point)
gasoline (to as well as from work)
gasoline (weekend motorcycle trips)
comprehensive automobile insurance
medical insurance
5. The following is a relapse of Lisa’s income for a month:

gross income $2500
net income $2000
possible reward from work $500
child await $800

What is Lisa’s stream monthly income? (1 point)
$2500
$2000
$2800
$3300
6. Based upon Lisa’s monthly income as well as a responsibility inform since above, we can contend which Lisa is vital (1 point)
within her means
in a red
in poverty
with a surplus
7. Which of a following is a picturesque devise which would assistance Lisa to change her budget? (1 point)
Pay a smallest change upon her credit cards instead of a monthly interest.
Negotiate a reduce lease remuneration with her landlord.
Switch from heavenly body TV to simple wire (which is cheaper), or internal radio around receiver (which is free).
Buy fewer groceries as well as eat out some-more instead.
8. Based upon her stream spending day to day as well as income, which of a following is loyal of Lisa’s monetary situation? (1 point)
in an normal month, she has usually about $200 to put in to savings
in an normal month, she has usually about $50 to put in to savings
in an normal month, she has no income to put in to savings, as well as is starting deeper in to debt any month
in an normal month, she has no income to put in to savings, though she during slightest breaks even
9. Lisa is deliberation replacing her vital room set with a latest one. The seat store is charity a 0 down, 0 seductiveness financing plan. Which of a following is expected true? (1 point)
if she creates a purchase, this would be deliberate “discretionary spending”
if she creates a purchase, she will not have to have a down remuneration or compensate seductiveness as prolonged as she creates all of her payments upon time
if she creates a squeeze though fails to have even a singular remuneration upon time, a seat store will expected need her to compensate seductiveness for a complete length of a loan
all of a above
10. “Living inside of your means” means: (1 point)
spending usually as most income as we consequence each month
having a gentle volume of assets left over after bound losses as well as optional income
planning bound as well as optional income formed upon your stream income and intensity income, such as a reward or inheritance, which we design to embrace soon
all of a above

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