Budget & Savings Summative

What are the fixed expenses of Sherri's monthly budget?

• cell phone, savings, other expenses

• rent, utilities, groceries

• cell phone, cable, other expenses

• rent, utilities, cell phone

What are the variable expenses of Sherri's monthly budget?

• rent, cable, groceries

• savings, groceries, other expenses

• rent, utilities, groceries

• cell phone, utilities, other expenses

Tags

CCSS.7.EE.B.3

CCSS.7.EE.B.4

The graph above represents a family’s monthly budget. The family’s income is $3,125. How much money does the family spend on utilities, transportation costs, and savings?

• $1000.93

• $1093.75

• $1937.50

• $2037.50

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.1

CCSS.7.NS.A.3

CCSS.7.RP.A.2

CCSS.7.RP.A.3

Jay’s monthly income is $2,750. How much of Jay’s monthly income is spent on his car payment and insurance?

• $587.50

• $615.75

• $655.75

• $687.50

Tags

CCSS.7.EE.B.3

CCSS.7.EE.B.4

CCSS.7.RP.A.3

Match the term that fills in the blank.

• The cost of groceries and gas is considered a(n) _.

• Variable Expense

• Taxes and withholdings impact your _ ,which is the amount of money you take home on your paycheck

• Irregular Income

• To budget with a(n) _ prioritize expenses so your most important are covered 1st

• Net Income

Because the amount of money I spend on gas depends on the price of gas and how much I use, it is considered a...

• Fixed Expense
• Variable Expense
• Discretionary Expense
• Income

Daycare can be very expensive! My friend pays $972 every month for her 3 year old daughter. 
This is considered a

• Fixed Expense
• Variable Expense
• Discretionary Expense
• Income

An 8th grader makes and sells earrings as a way to earn extra money. The money she gets is considered _______.

• Needs
• Wants
• Income
• Expenses

When getting a loan for a car, the ____ is an additional fee you will have to pay back.

• Fixed Expense
• Discretionary Expense
• Inflation
• Interest

Tags

CCSS.7.RP.A.3

When I use my debit card at the store, the money is automatically taken out of my ______ account.

• Savings
• Checking
• Inflation
• Withdraw

Tags

CCSS.6.NS.C.5