Budgeting

Budgeting

Assessment

Flashcard

Mathematics, Other

8th - 12th Grade

Hard

Created by

Wayground Content

FREE Resource

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15 questions

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1.

FLASHCARD QUESTION

Front

What is budgeting?

Back

Budgeting is the process of creating a plan to manage income and expenses over a specific period, helping individuals allocate their resources effectively.

2.

FLASHCARD QUESTION

Front

What is the most expensive category in a person’s budget?

Back

Housing is generally the most expensive category in a person’s budget.

3.

FLASHCARD QUESTION

Front

What type of expense is car insurance?

Back

Car insurance is a fixed expense, meaning it does not change from month to month.

4.

FLASHCARD QUESTION

Front

What is a paycheck an example of?

Back

A paycheck is an example of a deposit, as it adds money to an individual's account.

5.

FLASHCARD QUESTION

Front

Why is budgeting important?

Back

Budgeting is important because it helps individuals avoid overspending and prepares them for large expenses they may not be able to afford.

6.

FLASHCARD QUESTION

Front

Should needs come before wants in a budget?

Back

True, when making a budget, a person’s needs should come before their wants.

7.

FLASHCARD QUESTION

Front

What is a fixed expense?

Back

A fixed expense is a cost that does not change over time, such as rent or insurance.

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