Personal Budgets LANGE

A budget is a plan for spending and saving money.

• True

• False

The goal of a budget is to SPEND more than you SAVE.

• True

• False

When a person makes a plan on when to save and spend their money, they are making a....?

• Economy

• Personal Budget

• Market

• Competition

What do you call the amount of money a person spends on goods and services?

• Income

• Expenditures

• Taxes

• Savings

The money that you receive for mowing the lawn, babysitting or making good grades is called__________. 

• income 
• credit 
• debt 
• interest 

My cousin wanted to borrow $300 from me. I loaned him the money but I told him that he would have to pay me back $330. The money that was paid back to me on top of the loan is known as_________. 

• credit 
• interest 
• savings 
• debt 

I have been setting aside $100 a month for my children to have money to go to college. This idea is known as what? 

• savings 
• credit 
• income 
• debt 

Car Payment

• Fixed Expense

• Flexible Expense

• Unplanned Expense

Restaurant Bill - I eat at a different restaurant every Friday night.

• Fixed Expense

• Flexible Expense

• Unplanned Expense

Car Repair

• Fixed Expense

• Flexible Expense

• Unplanned Expense