Finances

1. The money you earn by having a job is called

• Income
• Salary
• Starting point
• Amount

2. A income is often called a

• Salary
• Starting point
• Choice
• Amount

3. Why is a budget an important tool to use for effective personal money management?

• It is a plan for spending and saving money.
• It helps guide you through purchasing a home.
• It creates a step-by-step plan to making profitable financial investments.

4. When it comes to your finances, you have a(n) income.

• Limited
• Unlimited

5. Are there limited or unlimited ways you can use your income.

• Limited
• Unlimited

6. One important reason to use a budget is that it helps keep track of your monthly expenses.

• True
• False

7. Which one is a unexpected expense?

• $450 car repair estimate
• $650 washing machine repair
• All of the above
• $ 4,000 air conditioner installation

8. A benefit of a budget is that it lets you

• make better economic decisions
• see where all your money is going

9. Which one is a expected expense?

• $800 mortgage payment
• $125 monthly electricity bill
• $150 weekly childcare
• All of the above

10. What is credit?

• A fee applied to money borrowed
• the abliity of a customer to obtain goods or services before payment...