Personal Finance Module 2

A mortgage payment is a

• Fixed Expense

• Variable Expense

Student loans are a

• Fixed Expense

• Variable Expense

Most utility payments are

• Fixed expenses

• Variable expenses

Entertainment is a

• Fixed expense

• Variable expense

If you own a TV, it is considered a(n)

• Asset

• Liability

Owing money is a(n)

• Asset

• Liability

Having a positive net worth makes you

• solvent

• insolvent

Net income can also be referred to as:

• Disposable Income

• Discretionary Income

Money from a paycheck after all taxes and bills (needs) have been paid

• Disposable Income

• Discretionary Income

• Despicable Income

• Disheveled Income

The idea of "paying yourself first" is what?

• Adding money to savings account at the end of the month

• Adding money to savings account right after being paid

• Treating yourself