Expenses that remain the same from month to month.

• Variable

• Fixed

Non-essential expenses

• Discretionary

• Intermittent

4. The zero-based budget is the best method of budgeting because:

• This type of budget is less complicated than other types of budgets

• A zero-based budget allows less money for wants

• Sticking to a zero-based budget requires less discipline

• The zero-based budget ensures that every dollar you make is assigned a specific purpose

ʺPay yourself firstʺ means you should assign a portion of your income to saving and investing every month.

• True

• False

Groceries are a:

• Fixed Expense

• Variable Expense

• Discretionary Expense

• Intermittent Expense

Which of the following is something that a typical millionaire would do?

• Spend less money than he or she makes

• lease a new car

• replace things that are not broken

• carry debt

Online bill pay allows you to make payments to whomever you wish without having to write a check and send it in the mail.

• True

• False

Which of the following account records would have the most current balance?

• Account balance statement from the ATM

• Your own account register

• your monthly bank statement

• All of these records will have accurate account balances

Car repairs are a:

• fixed

• variable

• discretionary

• intermittent

to match your bank statement with your checkbook.

• cash flow plan

• Reconcile