Personal Finance

What is a budget?

• A plan for how money will not be used

• A plan for how money will be used

• The amount you spend

• The amount you save

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 is interest?

• Money paid by other people

• Money robbed by the bank

• Money paid regularly by the bank on the account

What is investment?

• money spent on something with the goal of making more money

• money spent on other things

• money spent on saved products

What is this?

• Credit history

• Credit card

• Credit score

• None of the above

What is a budget?

• A type of savings account

• A way to invest for retirement

• A fund for emergencies

• A financial plan that defines expenses for a period of time.

A budget helps people make responsible economic decisions.

• True

• False

Which of the following is an example of income?

• Charging a lunch you will pay tomorrow

• Buying an ice cream at lunch today

• Money you get for working a job

• Trading supplies with a friend

What is the difference between income and expense (expenditures)?

• An expenditure is money that is saved; an income is money that is spent

• An expenditure is money that is earned; an income is money that is received

• An income is money that is given to another person; an expenditure is money that is received by another person

• An income is money that is received; an expenditure is money that is spent