Money Management

You should create a budget by ...

• writing down your monthly expenses.

• making a list of everything you want.

• finding how much college will cost.

• none of these.

Which of the following is not included in your monthly house payment?

• Principle and interest

• Property taxes

• Utilities

• Homeowners insurance

Something, typically money, that is owed or due.

• Debt

• Fixed Expenses

• Variable Expenses

• Periodic Expenses

Money that is a same amount of charge each month

• Money

• Wages

• Budget

• Fixed expenses

Amount of an individual’s income that is left for spending after taxes.

• Disposable Income

• Discretionary Income

• Fixed Expenses

• Variable Expenses

What is the primary purpose of creating a personal budget?

• To track and manage expenses

• To increase monthly income

• To eliminate all debts

• To invest in stocks

Which of the following is considered a variable expense?

• Rent

• Groceries

• Car payment

• Insurance

What is an emergency fund?

• Money set aside for unexpected expenses

• A fund for vacation planning

• A savings account for retirement

• An investment in stocks

Which of the following is a benefit of saving money regularly?

• Increased financial security

• Higher monthly expenses

• Immediate gratification

• Increased debt

What is the term for money earned from work or investments?

• Income

• Debt

• Expense

• Liability