Understanding Money Management Concepts

Front

What is the term for money that you earn, such as your salary or wages?

Back

Income

Front

Which of the following is an example of a fixed expense?

• Grocery bills
• Rent
• Entertainment
• Dining out

Back

Rent

Front

What is the term for a plan that helps you manage your spending and saving?

Back

Budget

Front

If you spend more money than you have, what is this called?

Back

Overspending

Front

Which of the following is considered a need? Smartphone, Water, Video games, Designer clothes

Back

Water

Front

What is the term for money that you owe to lenders?

Back

Debt

Front

Which of the following is an example of a flexible expense?

• Mortgage payment
• Utility bills
• Car insurance
• Subscription services

Back

Subscription services

Front

What is the term for money that you put away to use later?

Back

Savings

Front

Which of the following is considered a want?
Medicine, Shelter, Vacation, Food

Back

Vacation

Front

Back

Overspending