Budgeting

Front

What is INCOME?

Back

Money that comes in or is earned.

Front

Where can you earn income from?

Back

All of the above

Front

What is a DEDUCTION?

Back

Money that is taken out of a paycheck to go to other designated sources (such as taxes or insurance).

Front

What are FIXED EXPENSES?

Back

Payments that are always the same amount of money; predictable.

Front

FLEXIBLE EXPENSE

Back

Payouts of money that can change; they are not always the same amount.

Front

When making a budget, a person’s needs should come before their wants.

Back

True

Front

A financial plan is called a

Back

budget

Front

What is a need?

Back

Something you must have

Front

Which of the following is generally the most expensive category in a person’s budget? Healthcare, Clothing, Transportation, Housing

Back

Housing

Front

The amount an employee earns once taxes and other items are deducted from his or her gross pay.

Back

Net Income