
Budgeting Flashcard
Flashcard
•
Financial Education
•
7th Grade
•
Practice Problem
•
Hard
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10 questions
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1.
FLASHCARD QUESTION
Front
What is a budget?
Back
A plan for how to spend and save money
2.
FLASHCARD QUESTION
Front
Which of the following is considered a fixed expense? Grocery shopping, Rent or mortgage payments, Entertainment, Dining out
Back
Rent or mortgage payments
3.
FLASHCARD QUESTION
Front
What is the purpose of setting financial goals in a budget?
Back
To give direction and motivation to your spending and saving
4.
FLASHCARD QUESTION
Front
What is the first step in creating a budget?
Back
Track your expenses
5.
FLASHCARD QUESTION
Front
Why is it important to track your spending?
Back
To avoid overspending
6.
FLASHCARD QUESTION
Front
Which of the following is a variable expense? Rent, Car loan payment, Utility bills, Entertainment
Back
Entertainment
7.
FLASHCARD QUESTION
Front
What is an emergency fund?
Back
Money saved for emergencies like medical bills or car repairs
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