Budgeting
Quiz
•
Business
•
9th - 12th Grade
•
Easy
Hannah D
Used 4+ times
FREE Resource
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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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