Personal Finance Review

The money you receive from a job if you are paid hourly

• Wage

• Salary

• Commision

• Retirement

Fixed amount you are paid over time

• Wage

• Salary

• Retirement

• Comission

Percentage of a sale someone makes

• Wage

• Salary

• Comission

• Retirement

You must buget your money because income is

• Limited

• Unlimited

A plan to make sure all your needs are met

• Budget

• Retirement

• Savings

• Expenses

Money set aside for the future

• Budget

• Savings

• Expenses

Basic needs that a household must pay for

• Budget

• Savings

• Expenses

Sarah makes $2000 a month and Tommy makes $3000. What is their household income?

• $5000

• $2000

• $3000

• $50

Rent is $1000, groceries are $500, and utilities are $200. What is the total amount of expenses?

• $1000

• $2000

• $1700

Budgets are important because income is limited?

• True

• False