Sort your spending: fixed costs, flexible costs and choices: test your skills
Sorting spending into three kinds shows which costs you can change this month and which need a bigger decision. Answer each question to see the explanation; your score appears at the end.
This test checks that you can
- Sort spending into fixed, variable and discretionary
- Know which lever moves each kind
- Find the group where a change matters most
- Practice
1. Which is a variable cost?
- Practice
2. What usually changes a fixed cost?
- Practice
3. Dining out is…
- Key idea
4. Which statement best explains "Different costs, different levers"?
- Key idea
5. Which statement best explains "Fixed costs are quiet but large"?
- Key idea
6. Which statement best explains "Sort by what you would change"?
- Action plan
7. In the action plan, which step comes first?
- Mistake to avoid
8. Which of these is a mistake this lesson warns against?
- Mistake to avoid
9. Which of these is a mistake this lesson warns against?
Fixed $2,100, variable $700, discretionary $350. What share of the $3,150 total is fixed?
Show the answer
About 67%
$2,100 ÷ $3,150 = 0.667, about 67%.
Tag last month’s ten largest costs as fixed, variable or discretionary.
More tests in this bootcamp
- How to budget with the 50/30/20 rule
- How to build a zero-based budget in simple steps
- Sort your spending: fixed costs, flexible costs and choices
- Let your receipts reveal where your money goes
- Plan ahead with sinking funds
- Build a budget when your income changes
- Pause before you buy: manage impulse spending
- Keep more of your raise: avoid lifestyle inflation
- Make a monthly money check-in work for you
- Read your utility bill and find ways to use less
- Final exam: Budgeting and cash flow