budget

What two things does a budget compare?

• Income and Expenses

• Savings and Interest

• Income and Investments

• Expenses and Expenditures

The idea of a budget is to spend exactly as much as you spend.

• True

• False

When you set a budget, you should never revisit or adjust it.

• True

• False

An expense that only occurs because you are choosing to spend money like eating out or buying clothes is a(n) ___________ expense.

• fixed

• discretionary

• variable

• intermittent

Expenses that stay the same every month are _________ expenses. Rent would be an example.

• fixed

• discretionary 

• variable

• intermittent

The mortgage payment and the car payment are examples of which of the following?

• variable expenses

• assets

• zero-based budgeting

• fixed expenses

Which of the following is an example of a variable expense?

• car payment

• gas for your car

• student loan for college

• insurance

You have to eat so you need to buy groceries. This is a(n) ___________ expense.

• fixed

• discretionary

• variable

• intermittent

An estimate of income and expenditure for a set period of time

• budget

• anticipated income

• unanticipated income

• discretionary income

Preparing a budget includes

• Income, Expenses, Saving

• Only listing your expenses

• Only listing your debts

• Only listing your income