Lesson 3 Flashcard: The Art of Budgeting

Lesson 3 Flashcard: The Art of Budgeting

Assessment

Flashcard

Life Skills

7th Grade

Hard

Created by

Wayground Content

FREE Resource

Student preview

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10 questions

Show all answers

1.

FLASHCARD QUESTION

Front

The budgeting process starts with monitoring current spending.

Back

False

2.

FLASHCARD QUESTION

Front

Most short-term goals are based on activities over the next two or three years.

Back

False

3.

FLASHCARD QUESTION

Front

A common long-term goal for parents of a newborn child may involve saving for college.

Back

True

4.

FLASHCARD QUESTION

Front

Rent is considered a fixed expense.

Back

True

5.

FLASHCARD QUESTION

Front

Flexible expenses stay about the same each month.

Back

False

6.

FLASHCARD QUESTION

Front

The final phase of the budgeting process is to:

Back

review financial progress

7.

FLASHCARD QUESTION

Front

An example of a long-term goal would be: an annual vacation, saving for retirement, buying a used car, completing college within the next six months

Back

saving for retirement

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