Personal Finance Chapter 2

Which of the following is a consequence of overdrawing your checking account?

• Bounced check fee from the store

• Emotional and Financial Stress

• Overdraft fee from your bank

• All of the above

Taxes and witholding impact your _____, which is the amount of money you take home on your paycheck.

• net witholding

• Irregular Income

• commission

• Budget

Whats it called when you make money on the percentage of the total sales you make?

• Irregular Income

• Comission

• Gross Income

• Overtime

Which of the following is not a type of discretonary expense?

• Fixed

• Intermittent

• Variable

• Depreciation

Whats the biggest wealth-building tool?

• Income

• Investments

• Savings Account

• Inheritance

When you're creating a monthly budget, whats the first priority under "expenses"?

• Saving

• Giving

• Spending

• Entertainment

If you approach money with a generous spirit, you'll be

• Able to save

• Less Content

• More greatful

• Free of stress

What will tracknig expenses help you do?

• Stick to a budget

• Catch errors

• Make adjustments

• All of these

A budget gives you the freedom to spend

• True

• False

The 3 priorities in your budget are: giving, food, entertainment

• True

• False