Budgeting review Sept 2023

A record of income and spending and a plan for managing money each month.

• Budget

• Credit report

• Expense

• Savings account

The 3 main sections of a budget are your.....

• Bills, variable and discretionary expense

  
  

• Bills and expenses

  
  

• Income, savings and types of expenses

  
  

• Debit and credit and spending

  
  

This type of expense costs the same from month to month and are for things you need

• Fixed expense

  
  

• Impulse purchase

  
  

• Variable expense

  
  

• Discretionary expense

  
  

With a ______ expense, the amount you pay changes each time and are for things you need.

• Discretionary expense

• Variable expense

• Unplanned expense

• Fixed expense

An example of a fixed expense is your.... (Un ejemplo de un gasto fijo es su ... )

• Netflix bill

• Rent, mortgage or insurance

• Entertainment expense

• Food bill

Your netflix bill is an example of a .... (Tu factura de netflix es un ejemplo de ... )

• Variable expense

• Unplanned expense

• A need

• Discretionary expense

Which is/are true about a budget? (Select all that apply)

• It shoulds exactly what YOU WILL spend

  
  

• Can help you save to reach a goal

  
  

• Show if you are overspending on some areas

  
  

• Can help you if you have an emergency expense

  
  

These expenses are for things you don't need (your wants).

(Estos gastos son para cosas que no necesita, son sus deseos)

• Fixed expenses

  
  

• Discretionary expenses

  
  

• Vital expenses

  
  

• Variable expenses

  
  

When you subtract the total expenses from the Net income the remaining amount should be...

• Whatever comes up

  
  

• The amount you want to save

  
  

• A negative number

  
  

• Zero

  
  

In a budget, PYF stands for. . . (En un presupuesto, PYF significa. . . )

• Pay yourself first

  
  

• None of these

  
  

• Plan your future

  
  

• Plan your finances