Money Management

____________________ are expenses that remain the same every month.  Such as rent, car payment, and real estate taxes.

• Fixed Expenses
• Final Expenses
• Variable Expenses
• Prices

Which of the following is NOT a need?

• Food
• Clothes
• Netflix
• Shelther

Tags

CCSS.L.1.5A

CCSS.L.1.5B

CCSS.L.K.5A

A budget only works if.....

• You are willing to follow it
• if someone else creates it
• your parents give you money 

Money set aside for an unplanned costly event

• Income

• Budget

• Flexible Expense

• Emergency Funds

What is something financially wise consumers do?

• postpone major purchases until money can be saved for it
• spend now, figure out how to pay for it later
• worry about emergencies when they happen
• set only short term financial goals

Why budget?

• prevent debt
• plan for future
• save money
• all of these

If expenses were to exceed income on a spending plan, what would be a financially smart solution?

• Earn less income
• Decrease expenses
• Increase purchases
• Use a credit card more often

Tags

CCSS.7.RP.A.2

CCSS.7.RP.A.3

A plan for spending and saving is a

• Budget
• Long term Goal
• Google Sheet
• Spreadsheet

An example of a fixed expense is

• Contributions/Gifts

• Dinner out with friends

• Car payment

• Entertainment

Once you create a budget, it is a good idea to never change it.

• True
• False