Financial Fitness
Financial Fitness
Being financially fit means having the knowledge, tools, and discipline to manage your financial resources effectively, ensuring that you can meet your current and future financial needs.
This page provides information and tools for budgeting, saving, and managing debt, helping you to feel secure and confident in your financial decisions.
Save for the Rainy Day! – Answer Key & Explanations
1. Which of the following is not an emergency expense?
A. A flat tire
B. A surprise medical bill
C. Concert tickets
D. A leaking water heater
Correct Answer: C. Concert tickets
Explanation: Concert tickets, while enjoyable, are considered non-essential. Emergency expenses are unexpected, urgent, and necessary—such as a broken appliance, medical bill, or car trouble. Preparing for these events protects your financial stability and reduces stress during uncertain times.
Budget Basics Quiz – Answer Key & Explanations
June 2025
1. What is the first step in creating a budget?
Correct Answer: B. Listing your monthly income and expenses
Explanation: Knowing how much you earn and spend is the foundation of budgeting. You can’t plan what you don’t track.