Budgeting

Budgeting is crucial to your financial success.

• True
• False

If an expense can NOT be removed from your budget to save money, it is considered a _____.

• Income

• Want

• Need

• Savings

Examples of Fixed Expenses include:

• Mortgage, loans, rent
• Cable, entertainment, food
• Gas, food, phone
• Clothing, gas, food

Fixed or variable expense: Groceries

• Fixed

• Variable

Utilities

• Fixed Expenses
• Variable Expenses

A financial plan is called a

• budget

• tax

• allowance

• income

If an expense can be cut from your budget to save money, it is considered a ______.

• want

• need

• income

• savings

A 9th grader makes and sells earrings as a way to earn extra money. The money she gets is considered _______.

• income

• needs

• outflow

• wants

Of all the choices, which one should you budget for first?

• Groceries

• Entertainment

• Cell Phone Bill

• New Car

NSF stands for

• non satisfactory financing

• not saving fully

• non sufficient funds

• non surplus funds