Budgeting & Expense Types
Flashcard
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Other
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12th Grade
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Practice Problem
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Hard
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8 questions
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1.
FLASHCARD QUESTION
Front
If an expense can NOT be removed from your budget to save money, it is considered a _____?
Back
Need
Tags
EPF.MCM.1
EPF.MCM.1.1
2.
FLASHCARD QUESTION
Front
If an expense can be cut from your budget to save money, it is considered a ______.
Back
want
Tags
EPF.MCM.1
EPF.MCM.1.1
3.
FLASHCARD QUESTION
Front
Why budget?
Back
prevent overspending, plan for future, save money
Tags
EPF.MCM.1
EPF.MCM.1.1
4.
FLASHCARD QUESTION
Front
The money that you receive for mowing the lawn, babysitting or making good grades is called__________.
Back
income
Tags
EPF.MCM.1
EPF.MCM.1.1
5.
FLASHCARD QUESTION
Front
Why is it important to create a budget?
Back
A budget will help you save money and prioritize your spending.
Tags
EPF.MCM.1
EPF.MCM.1.1
6.
FLASHCARD QUESTION
Front
Mia, Anika, and Benjamin are discussing how to create a budget for their shared apartment. Which list below portrays expense categories in the most responsible order when creating a budget?
All of their needs, high priority wants, low priority wants, savings
Savings, all of their needs, high priority wants, low priority wants
All of their needs, high priority wants, savings, low priority wants
Savings, high priority wants, low priority wants, all of their needs
Back
All of their needs, high priority wants, low priority wants, savings
7.
FLASHCARD QUESTION
Front
Abigail, Noah, and Sophia are planning their monthly budget. Which of the following would be considered a variable (flexible) expense in their budget? Car Insurance, Rent, Entertainment, Student loan payment
Back
Entertainment
Tags
EPF.MCM.1.1
EPF.MCM.1
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