Budgeting and Saving Skills Scoring Test

Budgeting and Saving Skills Scoring Test

Welcome to the Budgeting and Saving Skills Test! This test is designed to assess your understanding and practice of budgeting and saving techniques. It is composed of multiple choice questions that will help evaluate your current skills and identify areas for improvement. Your score on this test will serve as a benchmark for your budgeting and saving efforts and will help you set realistic goals for the future.
Scoring: For each question, give yourself mentioned points for every "B" "C" and "D" answers, and no points for "A" answer.
- A score of 20 or higher = Strong saving and budgeting skills
- A score of 15-18 = Average saving and budgeting skills
- A score of 10 or lower = Weak saving and budgeting skills
1. How often do you create a budget?*

NeverOccasionallyWeekly/MonthlyEvery 6 months/year
2. How do you track your spending?*

I don'tI use my memoryI use pen & paper/spending diaryI use an app/my bank app
3. How much of your money do you save each month?*

NoneLess than 10%10-20%More than 20%
4. When faced with a large unexpected expense, how do you typically pay for it?*

I take a loan/go to a cash converter/pawnshopI put it on a credit cardI withdraw from my savings/ borrow from friends or familyI withdraw from my emergency fund
5. How often do you review and adjust your budget?*

NeverOccasionallyWhen my circumstances changeWhen my income or expenses increases/decreases
6. How do you plan for future money goals?*

I don'tI set aside a specific amount each monthI put money in my Super fund/term deposit/stock marketI create multiple sources of income
7. Have you ever overspent your budget?*

Yes, all the time/I don't budgetYes, sometimeRarelyNever
8. How do you handle unexpected income (e.g. tax refund, bonus)?*

I spend it on something I wantI add it to my savingsI use it to pay off my debtCombination of the above
9. How do you prioritize your spending?*

I spend it on what I wantI spend it on necessities firstI put money in savings and investments/paying off the debtI do a budget so that I can prioritize all of the above
10. How do you manage your money?*

I don'tI rely on partner and familyI manage it myselfI use an online platform/Consult Financial Counsellor or Financial Planner
Total Points
Should be Empty: