Money Management Terms

Money Management Terms

Assessment

Flashcard

Life Skills

10th Grade

Hard

Created by

Walter Brady

Used 1+ times

FREE Resource

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11 questions

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1.

FLASHCARD QUESTION

Front

Budget

Back

A plan for managing income and expenses over a specific period. Helps track spending and saving.

2.

FLASHCARD QUESTION

Front

Income

Back

Money received, especially on a regular basis, for work or through investments. Examples include salary, dividends, and rental income.

3.

FLASHCARD QUESTION

Front

Expenses

Back

The costs incurred in the process of earning income and maintaining a lifestyle. Categories include fixed, variable, and discretionary expenses.

4.

FLASHCARD QUESTION

Front

Fixed Expenses

Back

Regular, recurring expenses that do not change from month to month. Examples include rent, mortgage, and insurance.

5.

FLASHCARD QUESTION

Front

Variable Expenses

Back

Expenses that can change from month to month. Examples include utilities, groceries, and transportation.

6.

FLASHCARD QUESTION

Front

Discretionary Expenses

Back

Non-essential expenses that can be adjusted based on financial goals. Examples include entertainment and dining out.

7.

FLASHCARD QUESTION

Front

Savings

Back

Money set aside for future use, typically in a savings account or other low-risk investment. Important for emergency funds and future purchases.

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