Budgeting Vocab Quiz

- How you decide to spend your money - Sometimes called a spending plan

• expenses
• personal budget
• pay yourself first plan
• fixed expenses

total value of a person's financial assets minus their debts

• net worth
• variable expenses
• personal budget
• fixed expenses

financial punishment that is charged whether the bank covers the funds for the purchase or not

• reconcile checking account
• check fee
• overdraft fee
• maintenance fee

scheduled payment from a checking account on the due date of payment

• checking account
• reconcile a checking account
• auto-payment transaction
• mobile transactions

making sure the bank statement (bank's record of your withdrawals and deposits) matches your own record of what you have deposited into your account

• checking account
• reconcile a checking account
• auto-payment transactions
• reconcile a savings account

transfer of money electronically (this is treated like cash)

• checking account
• credit card
• debit card
• savings account

holds money for people who have deposited it, therefore, they can access the money on demand

• checking account
• debit card
• credit card
• savings account

money spent regularly, especially for needs

• expenses
• variable expenses
• fixed expenses
• maintenance fee

money that you spend and bills you must pay that do not change

• expenses
• variable expenses
• fixed expenses
• personal budget

expenses that can change by different amounts each month

• expenses
• variable expenses
• fixed expenses
• reconcile a checking account