Personal Finance

Front

What is the advantage to spending less money than is earned?

Back

You will save money for future purposes.

Front

What is considered a disposable income?

Back

Income remaining after deduction of taxes and other necessary expenses and savings

Front

A fixed regular payment, typically paid on a monthly or biweekly basis but often expressed as an annual sum, made by an employer to an employee_______________.

Back

salary

Front

What does one need to do to have a balanced budget?

Back

Spend less than they earn

Front

Which statement BEST describes Bill’s budget?

Back

Bill has a balanced budget because he is spending less than he is earning.

Front

A sum of money that must be repaid in full plus interest in a specific period of time is called a ___________________.

Back

loan

Front

What is a house payment?

Back

mortgage

Front

Money received from work, investments, or other financial support is __________________.

Back

income

Front

Financial obligations, such as bills, are ___________________.

Back

expenses

Front

A percentage of a borrowed sum of money which must be repaid with the loan itself is ________________.

Back

interest