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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

1. What must a person do to become financially independent?

2. What is the key to good spending habits?

3. What makes the difference between a good life and a great life?

4. What is the intrinsic value of money?

5. Which perspective is the notion of "keeping up with the neighbors" part of?

Short Essay Questions

1. What are some examples of recreational expense categories?

2. What is the first part of Step 1? What is its purpose?

3. What are some problems associated with "business as usual?"

4. Why is it beneficial to be specific with categories, rather than more general?

5. What is the second half of Step 2? What are the most important aspects of this exercise?

6. How do the authors compare budgeting with dieting?

7. What do the two parts of Step 2 allow program participants to track?

8. What is the second part of Step 1? What attitude should participants try to maintain when they see their result?

9. What is the first part of Step 2? How is this accomplished?

10. What are people's dreams good clues to?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

What is the difference between a cushion and a cache? Is one more desirable than the other is? Which will a program participant obtain first?

Essay Topic 2

Expand upon the authors' comparison between budgeting and dieting. Why are honest record-keeping and frugality better tools for managing finances than a budget? What terms would parallel record keeping and frugality, in terms of managing food intake?

Essay Topic 3

At what point do the authors ask program participants to invest money in order to earn investment income? How should investment income be tracked? How should it be used to lead to financial security or fulfillment?

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