Balancing a budget

Multiple Choice

Which of the following is an example of a need for most people?

• A place to live
• A nice car
• Designer jeans

Multiple Choice

Paying with a ______ _____ takes cash of your checking account.

• Credit card
• Debit Card
• Gift Card

Multiple Choice

What does a coupon help with?

• Pay extra money

• Save money

• Doesn't help at all

Multiple Choice

What two things does a budget compare?

• Income and Expenses
• Savings and Interest
• Income and Investments
• Expenses and Expenditures

Multiple Choice

Which is an example of a fixed expense?

• Cell Phone
• Utility bill
• Groceries
• Gasoline

Multiple Choice

This occurs when money is withdrawn from a bank account and the available balance goes below zero.

• overdraft
• reconcile
• balanced
• budgeting

Multiple Choice

Expenses that stay the same every month are _________ expenses. Rent would be an example.

• fixed

• not necessary

• variable

• flexible

Multiple Choice

What does it mean to pay yourself first?

• pay your bills first
• buy what you want first
• put your money in savings first
• pay your taxes first

Multiple Choice

Something unnecessary but desired. An item which increases the quality of life (video games, DVD's, etc.)

• surplus

• want

• need

• deficit

Multiple Choice

Based on the income, what is the most you can pay towards student loans?

• $749

• $649

• $650

• $750

Multiple Choice

Based on the budget, what is the most you can afford to spend on the car payment?

• $1018

• $1117

• $998

• $1017

Multiple Choice

Nancy wants to buy some music online but also have a balanced budget. Based on Nancy's current budget, what is the greatest amount of money she can spend on music?

• $10

• $35

• $140

• $5

Multiple Choice

Lola is saving for a vacation. Based on the budget numbers here, how much can she put in her vacation account this month?

• $32.00

• $48.00

• $112.00

• $128.00

Multiple Choice

How much cash was deposited on April 16th?

• $681.60

• $38.00

• $1,315.20

• $48.00

Multiple Choice

What was the account balance at the end of the day on April 12th?

• $681.60

• $241.85

• $633.60

• $786.85

Multiple Choice

What was the account balance at the end of the day on April 17th?

• $631.40

• $563.60

• $613.80

• $118.00

Multiple Choice

How much did Eduardo pay for internet on April 17th?

• $118.00

• $67.80

• $50.20

• I have no idea!!!

Multiple Choice

People who don't budget their money may ...

• Overspend

• Go into debt

• Be stressed

• All of the Above

Multiple Choice

Jill earned $220 gross income last month.  She had to pay $13 for payroll tax and $27 for income tax.  How much was Jill's net income?

• $260
• $193
• $180
• $40

Multiple Choice

Jordan's net income is $725 a month. She has a monthly car payment of $275 and saves $75. How much money can she spend and still have a balanced budget?

• $1,075.00

• $675.00

• $375.00

• $125.00

Multiple Choice

The money your parents give you weekly for school and food when you are young is called

• tip

• allowance

• weekly budget

• spendable money

Multiple Choice

Sales tax is __________ to the price.

• subtracted
• added
• multiplied
• divided

Multiple Choice

Income tax is added to your income

• True

• False