Personal Budget Vocabulary Quiz

Definition: A percentage of your income collected by the government to help pay for services like police, firefighters, and schools.​ (a)  

• Income Tax
• Budget
• Expense
• Balanced Budget
• Net Income
• Gross Income

Definition: Your income is equal to your expenses. You don't spend more than the income you have coming in.​ (a)  

• Balanced Budget
• Budget
• Expense
• Net Income
• Income Tax
• Gross Income

Definition: The amount of money you earn BEFORE any taxes or other expenses are taken out of your paycheck.​ (a)  

• Gross Income
• Budget
• Expense
• Net Income
• Income Tax
• Balanced Budget

Definition: A plan for how you will spend your money. It includes your income and expenses for a period of time (weekly, monthly, etc.).​ (a)  

• Budget
• Expense
• Net Income
• Income Tax
• Balanced Budget
• Gross Income

Definition: The money left over AFTER taxes and other expenses are taken out of your paycheck.​ (a)  

• Net Income
• Budget
• Expense
• Income Tax
• Balanced Budget
• Gross Income

Definition: Something you spend your money on.​ (a)  

• Expense
• Budget
• Net Income
• Income Tax
• Balanced Budget
• Gross Income