1) What is the 50/30/20 budget rule? a) a) A new personal finance app b) b) A book by Senator Elizabeth Warren c) c) A technique for effective time management d) d) A budgeting rule for allocating salary percentages 2) According to the 50/30/20 rule, what should 20% of your salary go toward? a) a) Leisure spending b) b) Necessities c) c) Savings 3) What does the 30% of your salary include? a) a) Only essential groceries b) b) Debt repayment c) c) Gym membership, dining out, and travel d) d) Retirement accounts 4) How is it suggested to adapt the budgeting rule? a) a) By spending 50% on necessities every month. b) b) By negotiating a raise. c) c) By reducing necessary payments through spending audits. d) d) By increasing leisure spending to 40% 5) According to the video, how does the author calculate the weekly grocery budget? a) a) It is a fixed amount regardless of salary. b) b) It is 30% of the monthly salary. c) c) It is 20% of the monthly salary. d) d) It is determined by subtracting rent, utilities, and transportation payments from 50% of the monthly salary. 6) What is one of the best ways to save money in the long run, according to the video? a) a) Constantly upgrading to new electronics b) b) Ignoring the state of expensive electronics c) c) Taking care of existing items, especially electronics d) d) Investing all savings in the stock market

Budgeting

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