Unit 5: Budgets Intro

Unit 5:

Budgets​

Personal Finance

Miss Danes

TSAS​

Open Ended

Question of the day:

You're trying to show off your cooking skills - what do you make?

Vocab

Unit 5 Budgets​

Multiple Choice

a tax imposed on certain goods and services

• budget

• fixed expense

• variable expense

• excise tax

• income

Multiple Choice

an expense that is regularly scheduled, predicted

• budget

• fixed expense

• variable expense

• excise tax

• income

Multiple Choice

an expense that is not regularly scheduled, unpredictable

• budget

• fixed expense

• variable expense

• excise tax

• income

Multiple Choice

an expense that is occurs in predictable amounts and intervals

• budget

• fixed expense

• variable expense

• periodic expense

• income

Multiple Choice

the amount of money a person makes

• budget

• fixed expense

• variable expense

• excise tax

• income

Multiple Choice

an estimate of amounts paid and amounts spent

• budget

• fixed expense

• variable expense

• excise tax

• income

Open Ended

What does it mean to "live below your means"?

Types of Expenses

Multiple Choice

Car payment, car insurance, rent, mobile phone plan are examples of

• fixed expenses

• variable expenses

• periodic expenses

Multiple Choice

cell phone purchase, electricity, groceries, & car repairs are examples of

• fixed expenses

• variable expenses

• periodic expenses

Multiple Choice

property taxes, car registration, and excise tax are examples of

• fixed expenses

• variable expenses

• periodic expenses

​Pass Out Notes

Fill in the Blanks

Jeremy's annual gross income is $70,000. Estimate his annual net income

Fill in the Blanks

Jeremy's annual gross income is $70,000. Estimate his monthly net income

Fill in the Blanks

Using the values listed in the "Brainstorm" - what percentage of his monthly net income did he pay for rent, electricity, internet, and cell phone combined?

Monthly Net Income vs Housing

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If Annie's biweekly gross income is $3000, what is her biweekly net income?

Fill in the Blanks

If Annie's biweekly gross income is $3000, what is her monthly net income?

Multiple Choice

Is Annie overspending on housing?

• Yes

• No

Fill in the Blanks

What is Regina's biweekly net income?

Fill in the Blanks

What is Regina's monthly net income?

Fill in the Blanks

What is Regina's total monthly housing expense?

Fill in the Blanks

What is percent of Regina's is spent on housing expenses?

Monthly Net Income vs Food, Clothes, & Entertainment

Fill in the Blanks

What is Marie's weekly net income?

Fill in the Blanks

What is Marie's monthly net income?

Fill in the Blanks

What is Marie's total expense?

Fill in the Blanks

What is the percent of Marie's monthly net income are these expenses?

Building a Budget

Tomorrow​