Money 101 Unit 2: Budgets

Front

When you break down the money you owe for bills, needs, and wants you are creating a..

Back

Budget

Front

The items you have to pay for are also known as

Back

Expenses

Front

The two common types of expenses we discussed are..

Back

Variable Expenses and Fixed Expenses

Front

A fixed expense is an expense that is..

Back

Consistent

Front

A variable expense is..

Back

Different each time

Front

Which of the following is an example of a fixed expense?
Options: Movie tickets, Dinner with friends, V Bucks, Car Insurance

Back

Car Insurance

Front

Which of the following is an example of a variable expense?
Options:
Rent
Phone Bill
Groceries
Electric Bill

Back

Groceries

Front

If someone gets paid $10/hour and works for 20 hours, how much will they get paid for their work?

Back

$200

Front

When paying bills, which method will typically make budgeting and spending easier? Options: Waiting until each bill's due date to pay it, Not paying your bills, Paying your bills immediately upon being paid, Not having a job

Back

Paying your bills immediately upon being paid

Front

Which of the following is true? Things you want to spend money on should take priority over things you need to spend money on, Wants and Needs should be equal in priority, Things you need to spend money on should take priority over things you want to spend money on, You should not budget for things you need or want

Back

Things you need to spend money on should take priority over things you want to spend money on.