Financial Literacy Test

A financial budget is a blueprint for the use of your money in the future.

The gross amount of a paycheck is used to determine income on a budget.

In a budget, needs are listed as fixed expenses; wants are listed as variable expenses.

Unlike a saving strategy to achieve a goal, a budget is not flexible.

People's values are reflected in how they spend their money.

A budget is balanced when total income equals total expenses.

For the purpose of preparing a budget, income is considered any money you expect to receive.

Saving for emergencies can reduce the impact of a financial setback.

The length of time a budget covers

The type of expenses over which you have the most control