CSB Financial Education

Budgeting and Saving

Welcome to Cambridge Savings Bank's Financial Education Program! We'd like to learn what you

know - and what you may be unsure of when it comes to managing your money. Let's get started!

Question Title

1. Please select your group number and survey you are taking today.

Question Title

2. What is a balanced budget?

Spending that sensibly balances needs and wants

Income equals expenses

Savings is part of the plan

Not sure

Question Title

3. What is the opposite of debt?

Income

Expenses

Savings

Not sure

Question Title

4. Do you gain more from cutting expenses or increasing gross income by the same amount?

Cutting expenses

Increasing income

Both are equal

Not sure

Question Title

5. Which statement is false when describing both a savings account and a certificate of deposit?

Both are FDIC insured

Both are products offered by banks

You can withdraw money from either at any time without penalty

Not sure

Question Title

6. What is meant by "Pay Yourself First?"

Buy necessities first

Invest in insured investments

Build savings into your budget

Not sure

Question Title

7. What is a budget?

Your bank balance online or in a check register

A plan for you spend and save your money

A plan for how you invest your money

Not sure

Question Title

8. Can a direct deposit of a paycheck be split into both a checking and a savings account?

No. Direct deposits can only go into checking accounts

Yes

No. Direct deposits can only go into savings accounts

Not sure

Question Title

9. What is inflation?

How much your salary increases every year

How much costs of essential items you buy increase every year

How much your investments grow every year

Not sure

Question Title

10. When budgeting jointly with another person, what is the most difficult part?

Record-keeping

Prioritizing expenses

Finding bargains

Not sure

Question Title

11. If your expenses exceed your income, your accountant would say, "You are in the _______"

Red

Black

Blue

Not sure