Ch 3 Finance Review

To make healthy financial ______, you must consider your financial needs and wants, as well as how much money is available to you. 

• diferences
• options
• decisions
• investments

If you are ______, the amount of your paycheck might change pay period to pay period. 

• an hourly employee
• a salaried employee
• employed
• unemployed

Purchases, savings, and charitable donations are included in which part of a budget?

• expenses
• motivating factors
• financial goals
• income

A plan for spending and saving money

• budget
• check
• money
• standard of living

Written orders to a bank to transfer funds from your account to someone else's

• budget
• checks
• deduction
• denomination

What's it called when you save money without having a specific purpose in mind?

• an open ended savings goal
• an ineffective savings goal
• a goal driven savings goal
• a purpose driven savings goal 

In a budget, snacks and movie tickets are examples of which of the following?

• fixed income
• flexible income
• fixed expenses
• flexible expenses

In a budget, wages and a consistent allowance are examples of which of the following?

• flexible expenses
• fixed expenses
• flexible income
• fixed income

A _______ savings goal gives you the freedom to know that when you need the money, it will be there. 

• short term
• flexible
• specific 
• strict

At the end of the month you subtract your actual expenses from your actual income. If the result is less than zero, what do you have?

• surplus
• deficit
• balanced budget
• missing entry