Budgeting

A plan for making and spending money

• budget

• investment portfolio

• check register

• financial analysis

What are variable expenses?

• monthly expenses that are the same cost from month to month

• monthly expenses that change cost from month to month

• An expense that you have once a year

• An expense that happens in case of an emergency

What are fixed expenses?

• monthly expenses that are the same cost from month to month

• monthly expenses that change cost from month to month

• An expense that you have once a year

• An expense that happens in case of an emergency

What is gross income?

• money you earn before taxes are taken out

• money you have left after taxes

• money you have left after you have paid your bills

• total amount of money you have in bank accounts, investments, and property

What is net or disposable income?

• money you earn before taxes are taken out

• money you have left after taxes

• money you have left after you have paid your bills

• total amount of money you have in bank accounts, investments, and property

What is net or disposable income?

• money you earn before taxes are taken out

• money you have left after taxes

• money you have left after you have paid your bills

• total amount of money you have in bank accounts, investments, and property

What is discretionary income?

• money you earn before taxes are taken out

• money you have left after taxes

• money you have left after you have paid your bills

• total amount of money you have in bank accounts, investments, and property

Which of the following is NOT a benefit of owning a home?

• you can re-decorate to your preferences

• not responsible for maintenance

• building equity (profit)

• monthly cost is fixed

Which of the following is NOT a benefit of Renting?

• can re-decorate according to your preferences

• can move quickly

• not responsible for maintenance

• more disposable income

What is a loan to buy a home called?

• Stock

• Home Equity Loan

• Mortgage

• Property Assessment