7 BST review 3

Is this an income or expense?

Pocket money

• Income

• Expense

Is this an income or expense?

Going to the movies with friends

• Income

• Expense

Is this an income or expense AND service or good? There are 2 answers

You are washing someone's dog

• Income

• Expense

• good

• service

David has an income of $15.00 and spends $10 a week at the tuck shop . Is he within budget?

• Yes

• No

Which of these is the correct way to calculate savings

• Expenses-income=saving

• savings-income=expenses

• Income-savings=savings

• Income-expenses=savings

Jenna wants to save more money. She spends a lot on food and entertainment. Which of the following would help? (hint: choose 2 correct answers)

• Don't pay her phone bill and use that money

• Make lunches at home instead of buying them

• Shout her friends when they can't afford the movies

• Cut down how often she goes out

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

• Income

• Want

• Need

• Savings

Preparing a budget includes

• Income, Expenses, Saving
• Only listing your expenses
• Only listing your debts
• Only listing your income

An amount of money in your budget spent to buy or do something that is the EXACT same amount every week is called a

• Variable Expense

• Income

• Emergency Fund

• Fixed Expense

The detailed plan of how you are going to use your money to pay for things you want and need is called a.....

• Budget

• Income

• Expenses

• Excel table