OSU Extension Let's Talk Money - Welcome to the Stretching Your Dollars Quiz

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Welcome to the Stretching Your Dollars Quiz

This is an opportunity for you to learn how to stretch your dollars in different parts of the budget such as food, clothing, utility costs, and more.

Directions: Mark your selection, choosing the best answer for each of the eight questions in this quiz. Then submit your quiz. You will receive back a graded copy of your answers with additional information about each topic in the quiz.

You should use your mouse or TAB key to move from field to field within the form. Some browsers may cause the form to be submitted prematurely if you use the ENTER key.

1. One way to lower your automobile insurance premium is to have a low deductible.

	a.True
	b. False

2.To reduce your water bill costs you should only allow water to run while brushing teeth, but should turn it off while washing face?

	a. True
	b. False

3. With growing obesity rates in the United States, eating healthy has become a large concern. Obesity rates in adults rose by 60% between 1990 and 2000 alone leaving many families searching for healthy food choices. At the same time, families would like to save money on their food purchases. Which of these is the BEST option that will help you eat healthier while spending less money?

	a. There is no need to make a list. You should be able to walk through the store and buy only what you know you need.
	b. Avoid sales and weekly specials; they will only make you buy more.
	c. Read the nutrition label for the foods you buy, you want to make sure you are getting your money’s worth.
	d. Only purchase name brand foods, they are the healthiest for you.

4. You are shopping at the grocery store and you notice the bread is on sale. Your family uses bread daily for sandwiches. If you buy two loaves of bread you get 50¢ off of each loaf. Which is the BEST option to help you make the most of your money?

	a. You don’t need bread today. You decide that you will just wait and make a trip to the store for bread when you need bread. You pass on the sale.
	b. You know you will need bread soon, but you are concerned that the second loaf of bread may not be eaten before it spoils. You only buy one loaf at full price.
	c. You are concerned that the second loaf of bread may not be eaten, but are willing to take the chance. You buy both loaves and plan to eat a lot of bread that week.
	d. You are concerned that the second loaf of bread may not be eaten. You buy both loaves and put the second loaf in the freezer. You will thaw out the second loaf when you need it.

5. Clothing expenses are part of the “other costs” in the family budget. The Bureau of Labor Statistics data indicates the total expenditure by persons under age 25 (8%) is higher than for persons over age 65 (6%). Most people pay for clothing one of the following ways: cash, layaway, or credit. Which is the least expensive?

	a. Cash
	b. Layaway
	c. Credit

6. A money stretcher tip for clothing would include figuring the “lifetime” cost of a garment and “the cost per wearing.” It makes more sense to spend more on items, which will be worn:

	a. Less frequently
	b. More frequently

7. Housing costs, which includes furnishings, often is the most expensive part of household budgets.

	a. True
	b. False

8. More than half of all the energy consumed in your home is used for heating and cooling. Changing the thermostat several degrees can save significantly on your heating and cooling costs.

	a. True
	b. False

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