Budgeting Vocab Assignment

Budgeting is crucial to your financial success.

• True
• False

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

Examples of Fixed Expenses include:

• Mortgage, loans, rent
• Cable, entertainment, food
• Gas, food, phone
• Clothing, gas, food

Which one is a fixed (same amount, same time) payment?

• food

• power

• mortgage

• petrol

Car Payment

• Fixed Expense
• Variable Expense

Fixed or variable expense: Groceries

• Fixed

• Variable

Fixed or variable expense: Rent?

• Fixed

• Variable

Utilities

• Fixed Expenses
• Variable Expenses

Gas

• Fixed Expense
• Variable Expense