Budgeting & Expense Types

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

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

Front

Why budget?

Back

prevent overspending, plan for future, save money

Tags

EPF.MCM.1

EPF.MCM.1.1

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

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

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

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

Front

What is the money earned by a 9th grader who makes and sells earrings considered?

Back

Income

Tags

EPF.MCM.1.1

EPF.MCM.1