
Personal Budget Flashcard
Flashcard
•
Life Skills
•
8th Grade
•
Hard
Wayground Content
FREE Resource
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12 questions
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1.
FLASHCARD QUESTION
Front
What is a personal budget plan?
Back
A detailed financial plan that outlines an individual's income, expenses, and savings goals.
2.
FLASHCARD QUESTION
Front
List three key components of a personal budget plan.
Back
Income, expenses, savings goals
3.
FLASHCARD QUESTION
Front
Why is it important to track your expenses when creating a personal budget plan?
Back
To understand where the money is being spent and identify areas for potential savings.
4.
FLASHCARD QUESTION
Front
How can you determine your monthly income for a personal budget plan?
Back
Add up all sources of income
5.
FLASHCARD QUESTION
Front
What are some common categories to include in a personal budget plan?
Back
Income, expenses, savings, debt repayment, discretionary spending
6.
FLASHCARD QUESTION
Front
What are some strategies for reducing expenses in a personal budget plan? Options: Cutting unnecessary expenses, creating a budget and sticking to it, finding ways to save on regular expenses, and finding alternative ways to reduce costs.
Back
Cutting unnecessary expenses, creating a budget and sticking to it, finding ways to save on regular expenses, and finding alternative ways to reduce costs.
7.
FLASHCARD QUESTION
Front
Why is it important to review and adjust your personal budget plan regularly?
Back
To ensure that it aligns with your current financial situation and goals.
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