Budgeting unit Review

When you owe money on a credit card there is a ________ on your balance sheet.

• Asset

• Liability

• liquid asset

• income

To help you with your financial planning you would create a _________

A tool that you could use to help you keep track of how much money you are worth _______ ( 3 words)

Assets - Liability = ________ (2 words)

money that you spend on every day needs is known as this.

• income

• expenses

• budget

• assets

The money that you make from a job is called?

All money coming in is called cash outflow.

• False

• True

your income - minus your expenses = net cash flow

• True

• False

Saving for a house over a period of 10 years is known as a ......

• Long-term goal

• Short-term goal

• middle-term goal

Your goal is to work at your job for 3 years to save for a car. You have set what type of goal.

• middle-term goal

• Long-term goal

• short-term goal