FinLit Vocab Flashcard

Front

What is a budget?

Back

A plan for your money

Front

Deductions are: A) Money added to your paycheck B) Money subtracted from your paycheck C) Money spent on expenses D) Money saved for future use.

Back

Money subtracted from your paycheck.

Front

An expense is: A) A plan for your money B) Money subtracted from your paycheck C) The things you spend money on D) Money required by law to go to the government.

Back

The things you spend money on

Front

Fixed expenses are items or payments that: A) Vary greatly each month B) Are generally predictable C) Are not required by law D) Are always unexpected.

Back

Are generally predictable

Front

Taxes are: A) Money you save for future use B) Money required by law to go to the government C) Money spent on health benefits D) Money borrowed with the expectation to pay back.

Back

Money required by law to go to the government

Front

Health benefits refer to: A) Money you pay towards health services B) Money you save for emergencies C) Money borrowed with the expectation to pay back D) Money required by law to go to the government.

Back

Money you pay towards health services

Front

Income is: A) Money you pay towards health services B) How much money you earn C) Money borrowed with the expectation to pay back D) Money required by law to go to the government.

Back

How much money you earn

Front

A money habit is: A) The choices you make with your money regularly B) Money you save for future use C) Money borrowed with the expectation to pay back D) Money required by law to go to the government.

Back

The choices you make with your money regularly

Front

Periodic expenses are items that: A) Occur monthly B) Occur annually, quarterly, or at unexpected times C) Are always predictable D) Are not required by law.

Back

Occur annually, quarterly, or at unexpected times

Front

Variable expenses are items that:

Back

Vary in cost from month to month.