Money Matters Ch2 Review

Taxes and withholdings impact your _____________________, which is the amount of money you take home on your paycheck

• Net Income

• Gross Income

• Income Tax

• Expenses

The cost of groceries and gas is considered a(n) _________________.

• Fixed Expense

• Variable Expense

• Intermittent Expense

• Discretionary

To budget with a(n) ____________________, prioritize expenses from most to least important so your most important expenses are covered first.

• Irregular Income

• Fixed Income

A(n) _____________________ needs to be evaluated in light of your other expenses for the month

• Discretionary Expense

• Fixed Expense

• Net Income

• Gross Income

A(n) _______________ expense stays the same from month to month.

• Fixed

• Discretionary

• Intermittent

• Variable

A(n) ___________________ should account for fixed, variable, intermittent, and discretionary expenses based on income.

• Zero-based budget

• Income

• Variable budget

Match definition to correct term:

Money earned

• income

• opportunity cost

• risk

• personal finance

• budget

This is how much a person earns for every hour worked

• net pay

• gross pay

• hourly pay

• salary

Amount of money you make

• Shift

• Degree

• Salary

• Veteran

I feel prepared to create a zero-based budget.

• Completely Agree

• Somewhat Agree

• Somewhat Disagree

• Completely Disagree