Personal Budget 7.13B Review

Which of these expenses is an example of a variable expense?

• Rent

• Utilities

• Car Payment

• 
  Entertainment

The mortgage payment (housing) and the car payment (transportation) are examples of ...

• Variable Expenses

• 
  Budgeting

• Fixed Expenses

• Assets

An expense that occurs by choice (you choose to spend money eating out or on clothing accessories) is an example of ...

• Intermittent Expense

• Fixed Expense

• Variable Expense

• 
  Budgeting

Julie budgets $600 of expenses each month. What percent of her budget does she spend on her car?

• 
  10%

• 50%

• 25%

• 25%

This is Julie's monthly budget. How much money does she budget for expenses each month?

• $600

• $300

• $90

• $80

Jonathan earns $3,500 each month. If he wants to set aside 5% of his income for emergencies each month, how much money will he be setting aside?

• $5

• 
  $175

• $35

• $1750

What percent of their budget does the Hernandez family spend on taxes?

• 
  5%

• 50%

• 10%

• 
  500%

Which expense makes up 20% of the Hernandez family's monthly budget?

• Mortgage

• 
  Entertainment

• Utilities

• Retirement Savings

Mateo earns $4,250 each month. In his budget, he wants to save 5% for retirement and spend 10% on entertainment. How much money will he need to set aside for these two expenses?

• $212.50

• 
  $637.50

• $425

• $425

If a family has a $5000 monthly budget and they want to spend exactly 30% of their budget on housing, which city will they choose to live in?

• Austin

• Dallas

• Houston

• 
  San Antonio