Budgeting for Success Objective Assessment

What kind of expenses are common and the amount is different every time​

• Variable
• Frequent
• Fixed
• Periodic

What is not a type of Income?

• Your allowance​

• Pay check from a job​

• Fees paid on a loan​

• Interest earned

What are expenses that cost the same every time -- often a set monthly payment.

• Periodic
• Fixed
• Secured
• Variable

Car insurance is a ________, ________ expense if you pay it twice per year.​

•  fixed, variable
• periodic, fixed

Auto repairs are an example of a Variable, occasional expense.​

• True
• False

If Michael earns $135 a week from his part-time job, and gets $5 interest a month from the bank, his estimated monthly income should be​

• 465

• 545

• 440

What are expenses that arise occasionally during the year, usually less than once a month?

• Projected
•  Planned
• Mapped
• Periodic

Entertainment, personal care, and gasoline are examples of fixed expenses.​

• True
• False

If Kim earns $260 a month baby and pet sitting, receives a $20 weekly allowance, and gets $250 for her Sweet Sixteen birthday, her estimated monthly income should be ____.​

• $515

• $215

• $300

• $340

If Anthony earns $275 a week from his part-time job, and 18% of his paycheck is deducted for taxes, his estimated monthly income should be ____.​

• $800

• $902

• $450

• $425