Personal Budget

A percentage of your income collected by the government to help pay for services like police, firefighters, and schools is called ____________.

• expense

• gross income

• income tax

• net income

Something you spend your money on is called a(n) ___________.

• income tax

• gross income

• expense

• budget

A plan for how you will spend your money is called _________.

• budget

• balanced budget

• expense

• net income

You don't spend more than the income you have coming in. You spend and save equal to your income for that time period. This is called ________.

• balanced budget

• aligned budget

• budget

• gross budget

The amount of money you earn before any taxes or other expenses are taken out of your paycheck is called _______.

• income

• gross income

• net income

• balanced income

The money left over after taxes and other expenses are taken out of your paycheck. This is the money that you have to spend or save. This is known as a __________.

• gross income

• net income

• budget

• balanced budget

Select the items that should be part of your balance budget.

• Savings

• Housing

• Car

• Other expenses

How many months are in a year?

• 9 months

• 7 months

• 24 months

• 12 months