Personal Finance Quiz

Expenses can be __________ or __________.

__________ are things that you must have to live.

__________ are things that you would like to have.

__________ expenses are always the same and you can predict to pay them every week, every two weeks, or every month.

One example of a fixed expense is __________.

__________ expenses change based on usage or amount. They are not the same each time they are due.

One example of a variable expense is __________.

__________ expenses come regularly, but less often than monthly.

An example of a periodic expense is __________.

Imagine Sarah commuting to her office every day! She spends $300 annually on her subway pass. Is this expenditure a fixed expense, a variable expense, or perhaps a periodic expense?

• Fixed expense

• Variable expense

• Periodic expense