Budgeting

Front

Income is all the money you earn (make) over a period of time. Usually a month.

Back

True

Front

A budget _________________________

Back

Lets you know how much money you have and where it's going

Front

All of these are "NEEDS" EXCEPT: HOUSING, MOVIE TICKETS, RENT, GROCERIES

Back

MOVIE TICKETS

Front

Rent and car insurance payments are both which type of expenses?

Back

fixed costs that are needs

Front

Who would benefit MOST from a personal budget? Options: Tim carefully keeps track of his expenses, Sue spends less than she earns, David is saving for a major purchase, Bob does not have enough money to pay bills.

Back

Bob does not have enough money to pay bills.

Front

For which item would someone MOST LIKELY need to save money in order to purchase? Options: a new shirt, a new washing machine, a hair dryer, a video game

Back

a new washing machine

Front

Daycare cost of $972 every month for a 3-year-old daughter is considered a: Fixed Expense, Flexible Expense, Discretionary Expense, Income

Back

Fixed Expense

Front

The money an 8th grader earns from selling earrings is considered _______. Options: Needs, Wants, Income, Expenses

Back

Income

Front

Your pay BEFORE deductions

Back

Gross

Front

An expense that changes from month to month.

Back

Flexible expense