Budgeting and Finance 7th Grade

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

Examples of Fixed Expenses include:

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

Fixed or variable expense: Groceries

• Fixed

• Variable

Car Payment

• Fixed Expense
• Variable Expense

Fixed or variable expense: Rent?

• Fixed

• Variable

Gas

• Fixed Expense
• Variable Expense

Car Insurance

• Fixed Expense
• Variable Expense

Dining Out

• Fixed Expense
• Variable Expense

Homeowner's Insurance

• Fixed Expense
• Variable Expense