Budgeting

Budgeting

9th - 12th Grade

21 Qs

quiz-placeholder

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Budgeting

Budgeting

Assessment

Quiz

Business

9th - 12th Grade

Easy

Created by

Hannah D

Used 4+ times

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21 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Budget

A plan of your expected income and how you will use it to meet your expected expenses over a period of time

Expenses that are essential for you to be able to live and function

I want to ensure I prioritize savings and know where my money goes so I am creating a budget

Items or services you pay for such as rent, groceries, entertainment, bills, etc.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Expenses

This is the money you have to budget

Total earnings before any deductions are taken

Rent, groceries, entertainment, bills, etc.

Items or services you pay for such as rent, groceries, entertainment, bills, etc.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Gross Pay

Total earnings before any deductions are taken

Do NOT budget off this amount or you will be overspending because this is NOT the same as the amount that will be on your actual paycheck

Expenses that help you live more comfortably

Nice to have

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Net Pay

Nice to have

Expenses that help you live more comfortably

Total earnings after payroll taxes and other deductions have been taken out; also called take-home pay

Items or services you pay for such as rent, groceries, entertainment, bills, etc.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Needs

Total earnings after payroll taxes and other deductions have been taken out; also called take-home pay

Expenses that are essential for you to be able to live and function

Expenses that are essential for you to be able to live and function

Essential items like housing, food, transportation

tems or services you pay for such as rent, groceries, entertainment, bills, etc.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Wants

tems or services you pay for such as rent, groceries, entertainment, bills, etc.

Expenses that help you live more comfortably

A plan of your expected income and how you will use it to meet your expected expenses over a period of time

I want to ensure I prioritize savings and know where my money goes so I am creating a budget

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Fixed Expense

monthly rent payment

Any cost incurred on a regular basis

cost the same amount on a routine basis

Need, wants, saving

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