Personal Budget

What is income?

• The amount you spend

• The amount you don't save

• Money taken in

What is variable expense?

• The amount of money you spend

• The amount of money you save

• An expense that costs different amounts every month

• The variable in math

What are stocks?

• sharing something

• An ownership share in a company

• A graph with pointy arrows that are red and green

The expenses section of a personal budget

• should be larger than the income section of the budget.

• shows the amount of money that is spent each month.

• includes the amount of interest earned on investments.

• is not important if income is greater than expenses.

People keep a personal budget to help them

• set and reach financial goals.

• earn promotions at work.

• buy with credit.

• buy anything they want.

What is NOT a reason that people usually save money?

• to buy special things for the future

• to have money for emergencies

• to make a payment on an expensive item

• to buy basic necessities

A budget is a list of

• income and expenditures

• things to buy

• how much to save

• needs and wants

An expense that changes from month to month is called:

• income

• fixed expense

• variable expense

• budget

An expense that is the same amount and cannot easily be changed is called:

• income

• fixed expense

• variable expense

• budget

A plan that is used to determine how money will be spent is called:

• income

• fixed expense

• variable expense

• budget