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The Ultimate Discretionary Expenses Quiz
by Staff
If you find yourself short of funds before the end of the month, you may want to start monitoring your discretionary spending. Identify those items that you really can live without and find ways to economize on the items you need. Take this quiz to see how much you know about discretionary expenses.

What is a discretionary expense?

  • money spent on items that you don't really need
  • extra money spent on items that you could have bought for less
  • both

Cellphones have become a must have for most people. What cellphone features may be discretionary for most people?

  • text messaging
  • Internet service
  • long distance

What is a good way to eliminate some discretionary entertainment spending?

  • rent movies
  • pay-per-view
  • buy videos

How can you save money while on your lunch break?

  • Bring a bag lunch.
  • Buy fast food.
  • Use coupons.

How can a calendar help you to save money?

  • Track the due dates for credit cards.
  • Track holidays for special sales.
  • Mark reminders to buy off season items.

Why are manicures a discretionary expense?

  • You can paint your own nails for much less money.
  • You don't need a manicure.
  • Manicures don't last very long.

How can you trim your discretionary spending on bottled water?

  • Drink tap water.
  • Drink from a reusable bottle.
  • both

If you drink tap water to save money from bottled water costs, what else may you save?

  • You may help save the environment by using less plastic.
  • You may save time on your grocery shopping.
  • You will save yourself from having to carry those heavy bottles of water into your home.

What is an alternative to buying expensive magazine subscriptions?

  • You may read magazines for free on the Internet.
  • You could watch more TV.
  • You should buy less magazine subscriptions.

How can you save money on travel?

  • You should vacation at home this year.
  • You should shop around for the best price on hotels and rental cars.
  • You should stay with friends or relatives instead of a hotel.

Why should you carefully check through you cellphone bill?

  • You should verify your plan.
  • Cellphones companies cheat on the bills.
  • Make sure you are paying only for the services you need.

What is a budget?

  • a plan for saving and spending
  • a list of all expense items
  • a list of all income items

How can you trim your restaurant expenses?

  • coupons
  • early dining menu
  • both

If a daily coffee made by your local barista is something you simply cannot live without, how can you cut the cost?

  • You should ask about specials for frequent customers.
  • You could drink a smaller size coffee.
  • You could change to tea.

How can charging on your credit card help you save money?

  • You have to spend money to make money.
  • Some credit card companies offer reward programs.
  • You should charge only items that are on sale.

How do you use a budget planner?

  • to track income and expenses
  • to prevent you from spending money
  • to track your activities

Can you budget for discretionary expenses?

  • You should budget for discretionary expenses.
  • You should not have discretionary items in your budget.
  • You should budget only for items you need.

Should you stop all discretionary spending?

  • You should stop all discretionary spending.
  • You should stop discretionary spending on things that do not improve your life.
  • You should not stop all your discretionary spending.

Can you get money back on a unused gym membership?

  • Call the gym customer service and ask if some kind of arrangement can be made.
  • Go to the gym and work out -- you will not be spending money if you are exercising.
  • There is nothing you can do -- learn a lesson for the next time to think twice before buying something you don’t really need.

How can you save money on your cellphone bill?

  • Change to a less expensive plan.
  • Cancel your phone.
  • Make fewer calls.