Junior Achievement Budget+

Front

Short-term goals are:

Back

accomplished in less than a year

Front

In what category of a typical family budget do people spend most of their money? Options: Entertainment, Transportation, Food, Housing

Back

Housing

Front

A record of income and expenditures for a given period of time is called a/an:

Back

Budget

Front

Sarah went to the grocery store to buy a loaf of bread for her mother. While waiting in the checkout line, she saw a display for a new Easter candy bar, so she bought it, too. The candy bar purchase is an example of a/an:

Back

Impulse buy

Front

The amount of earnings made over one month, after deductions, is known as:

Back

Net monthly income

Front

When budgeting, the first categories to consider are those that meet your:

Back

Needs

Front

What is the difference between a short-term goal and a long-term goal?

Back

A short-term goal can be accomplished in as little as three months to a year. A long-term goal takes one year or more to realize.

Front

What is the difference between NMI and discretionary funds?

Back

Net monthly income is the amount of money available for spending AFTER taxes are deducted. Discretionary income is the money available AFTER monthly bills are paid and basic living needs are met.

Front

What does it mean to follow a budget?

Back

A budget means following a spending plan, helps a person manage expenses, and helps people to work towards both short-term and long-term goals through regular saving.