Budgeting POB

Front

What is a Budget?

Back

A financial plan for a month.

Front

What type of expense is the same every month? Options: Variable Expense, Fixed Expense, Favorable Expense, Expected Expense, Unexpected Expense

Back

Fixed Expense

Front

What type of expense do you pay every month but the amount changes from month to month? Options: Expected Expense, Unexpected Expense, Fixed Expense, Variable Expense

Back

Variable Expense

Front

Where on a budget would you put your paycheck money?

Back

Income

Front

Which of the following is a Variable expense? Rent, Student Loan payment, Mortgage, Water Bill, Car Payment

Back

Water Bill

Front

Which pay on your paycheck is "Before" deductions and withholdings?

Back

Gross Pay

Front

Which of the following line items on a paycheck would be considered a "Withholding": State Tax, Union Dues, 401 k contributions, Federal Tax?

Back

401 k contributions

Front

What should you do with a budget "favorable" variance? Options: Celebrate and buy something for yourself, Pay more bills with the variance, Save or invest the variance, Send it in to your credit card company

Back

Save or invest the variance

Front

Which of the following line item on your paycheck would be considered a "Deduction"? Social Security Tax, 401 k contribution, HSA account contribution, 403b account contribution

Back

Social Security Tax

Front

What is an unfavorable balance on a budget?

Back

When you spend more money than you made on the budget.