Budgeting Flashcard

Front

Income is all the money you earn (make) over a period of time. Usually a month.

Back

True

Front

A budget _________________________.

Back

Lets you know how much money you have and where it's going

Front

All of these are "NEEDS" EXCEPT: HOUSING, MOVIE TICKETS, RENT, GROCERIES

Back

MOVIE TICKETS

Front

Rent and car insurance payments are both which type of expenses?

Back

fixed costs that are needs

Front

Which of the following people would benefit MOST from a personal budget? Tim carefully keeps track of his expenses. Sue spends less than she earns. David is saving for a major purchase. Bob does not have enough money to pay bills.

Back

Bob does not have enough money to pay bills.

Front

For which item would someone MOST LIKELY need to save money in order to purchase? a new shirt, a new washing machine, a hair dryer, a video game

Back

a new washing machine

Front

Daycare can be very expensive! My friend pays $972 every month for her 3 year old daughter. This is considered a

Back

Fixed Expense

Front

An 8th grader makes and sells earrings as a way to earn extra money. The money she gets is considered _______.

Back

Income

Front

Your pay BEFORE deductions

Back

Gross

Front

An expense that changes from month to month.

Back

Flexible expense