CH 16 Test

______allows you to meet your personal goals with a system of saving and wise spending.

• expenses

• variance

• budget

• allowance

_____ costs that occur on a regular basis and are for the same amount each time.

• variable expense

• bills

• fixed expense

• allowance

What is an example of a fixed expense?

_____ living costs that differ each time and may not be as easy to estimate.

• financial records

• fixed expense

• variable expense

• allowance

What is an example of a variable expense?

_____ the amount of money that you plan to use for a certain budget category

• cash flow

• net worth

• budget

• allowance

Which is NOT one of the 8 budget categories?

• graduation

• savings

• transportation

• food

What is an example of a long-term financial goal?

What is an example of a short-term financial goal?

a major purpose of a budget is to....

• assist with comparison shopping

• achieve financial goals

• reduce a person's life enjoyment

• gather credit card data