Financial Literacy Vocabulary

Front

What are expenses that do not occur on a regular basis?

Back

Variable expenses are costs that can change from month to month, such as entertainment or groceries.

Front

What is an expense that occurs on a regular basis?

Back

Fixed expenses are costs that remain the same each month, like rent or mortgage payments.

Tags

CCSS.L.2.4E

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

Front

What type of expense is buying new clothes?

Back

Buying new clothes is considered a variable expense.

Front

What type of expense is a doctor visit?

Back

A doctor visit is considered a variable expense.

Front

What type of expense is house rent or a monthly payment?

Back

House rent or a monthly payment is considered a fixed expense.

Front

What is income?

Back

Income is the money received, especially on a regular basis, for work or through investments.

Tags

CCSS.L.2.4E

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

Front

What is profit?

Back

Profit is the amount of money that remains after all expenses have been paid.

Tags

CCSS.L.2.4E

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

Front

Give an example of a variable expense.

Back

An example of a variable expense is a monthly grocery bill.

Front

Give an example of a fixed expense.

Back

An example of a fixed expense is a car payment.

Front

What is the difference between fixed and variable expenses?

Back

Fixed expenses stay the same each month, while variable expenses can change.