Budgeting Quiz

First Name

Last Name

Period

• 2
• 3
• 6
• 8
• 9

Costs associated with your daily life, such as bills, groceries, transportation and entertainment.

• Expenses
• Breakeven
• Net Pay
• Income
• Budget

Income - Expenses = ___________

• Budget Variance
• Expenses
• Breakeven
• Net Pay
• Income

Costs that remain constant from month to month

• Fixed Expenses
• Expenses
• Breakeven
• Net Pay
• Income

Money that you earn regularly from various sources.

• Income
• Expenses
• Breakeven
• Net Pay
• Budget

Gross Pay – Deductions (also known as take home pay)

• Net Pay
• Expenses
• Breakeven
• Income
• Budget

A financial plan that helps you manage your money by tracking and controlling your income and expenses.

• Budget
• Expenses
• Breakeven
• Net Pay
• Income

Occurs when you spend more than your income. (Income < Expenses)

• Budget Deficit
• Expenses
• Breakeven
• Net Pay
• Income