Budget Quiz

The term ______________ is used to explain a person's income that does not vary with each period could include wages, salary, student allowance, benefit

• Fixed Income
• Variable Income

_____________ is an income that can vary each time the person receives it. Could include tax rebates, overtime

• Fixed Income
• Variable Income

A _____ is something that is necessary for humans to live a healthy life an example could be food, water, medical, housing, clothing

• Need 
• Want

A ______ is something that is desired e.g. computer, holiday, car, cell phone

• Need 
• Want

Your monthly budget should include:

• Variable expenses
• Discretionary Expenses
• Fixed Expenses
• All of the above

Rent is a:

• Fixed expense
• Discretionary Expense
• Variable expense
• Intermittent expense

Groceries are a:

• Fixed expense
• Variable expense
• Intermittent expense
• Discretionary expense

If we decide to go to the movie theater over Spring Break, it would be considered a __________.

• Variable Expense

• Fixed Expense

• Discretionary Expense

• Income

To have a __________ at the end of the month, I have to make sure I don't spend more than I earn and have some money to save at the end of the month.

• Income
• Expense
• Balanced Budget
• Savings

When getting a loan for a car, the ____ is an additional fee you will have to pay back in addition to the value of the loan.

• Fixed Expense

• Discretionary Expense

• Inflation

• Interest