Budgeting Terms

Front

Which of these is an example of a tax: Late fee, Bounced check fee, Rental payment, Social Security?

Back

Social Security

Front

Which of these is an example of a tax? Medicare, Line of credit, Health Insurance, Retirement account

Back

Medicare

Front

Taxes are

Back

mandatory payments to local, state and federal government

Front

A budget is BALANCED when

Back

the amount you spend is equal or less than the amount you earn.

Front

A variable expense is

Back

a bill that changes from month to month

Front

An example of a variable expense is

Back

Grocery bill

Front

An example of a fixed expense is

Back

Rental payment

Front

A fixed expense is

Back

a bill that stays the same from month to month

Front

Which of the following is an example of a NEED (vs. a WANT): A new pair of designer shoes, A new video game, Medicine, A new cell phone?

Back

Medicine

Front

Which of these are a WANT (vs. a NEED)? Concert tickets, Medicine, A warm winter coat, A place to live

Back

Concert tickets