Everyday Money Essentials (BSP EFLP)

문항 미리보기

120문항 중 앞 5문항입니다.

1. 1

   What is a budget?

   1. 1A plan that tells your money where to go, matching spending and saving to income before the month begins
   2. 2A record banks keep of your withdrawals
   3. 3A limit the government sets on household spending
   4. 4A loan you take to cover monthly bills

   정답A plan that tells your money where to go, matching spending and saving to income before the month begins

   Budgeting is simply planning: you give every peso a job, which turns income into a tool instead of a leak. Factual reference: BSP Economic and Financial Learning Program (EFLP); accessed 2026-09-05.

2. 2

   What is the difference between income and expenses?

   정답Income is the money that comes in, while expenses are the money that goes out

   The gap between the two is what makes saving possible; when expenses exceed income, debt fills the gap instead. Factual reference: BSP EFLP; accessed 2026-09-05.

3. 3

   Why is tracking every expense for a month so revealing?

   1. 1Because most people underestimate small, frequent spending, and the record shows where the money actually went
   2. 2Because banks require the list before opening an account
   3. 3Because it automatically lowers your bills
   4. 4Because it increases your salary

   정답Because most people underestimate small, frequent spending, and the record shows where the money actually went

   Writing down each purchase converts vague feelings into facts you can act on, like cutting subscriptions you forgot. Factual reference: BSP EFLP; accessed 2026-09-05.

4. 4

   How does a need differ from a want in budgeting?

   1. 1A need is required for basic living such as food, shelter, and medicine, while a want improves comfort or enjoyment but can be postponed
   2. 2A need is anything cheap, while a want is anything expensive
   3. 3A need is paid in cash, while a want is paid by card
   4. 4There is no real difference between the two

   정답A need is required for basic living such as food, shelter, and medicine, while a want improves comfort or enjoyment but can be postponed

   The line can blur — a phone may be a need for work but a flagship model is a want — but the habit of asking keeps spending intentional. Factual reference: BSP EFLP; accessed 2026-09-05.

5. 5

   What is the difference between fixed and variable expenses?

   정답Fixed expenses stay roughly the same each month like rent, while variable expenses change with your usage and choices like food or utilities

   When money is tight, variable expenses respond fastest, but large fixed costs deserve the closest scrutiny before you commit to them. Factual reference: BSP EFLP; accessed 2026-09-05.