Money Management

The main TWO PARTS of MONEY MANAGEMENT are:

• Income & Spending

• Income & Outcome

• Outcome & Spending

• Spending & Expenses

Select the 3 Steps to making a Spending Plan:

• Organize your Assets

• Set a Goal

• Assess Your Needs

• Make a Plan

Miscellaneous money you did not plan to spend

• Piece work

• Unexpected expenses

• Interest

• Fixed expenses

An expression that refers to the act of spending all the money someone earns each month on necessary expenses

• Transaction

• Income

• Quality of life

• Hand-to-mouth

The management of money and financial decisions for a person or family including budgeting, investments, retirement planning and investments is...

• Investment

• Personal Finance

• Economics

• Savings

Joey was approved for a credit card and soon spent over $2000. What is the money owed called?

• Debit

• Savings

• Debt

• Bankruptcy

Why do people use debt for big purchases?

• To give money away

• To afford expensive items like houses or cars

• To build a collection of items

• To save money

Money that is a standard charge each month

• Money

• Wages

• Budget

• Fixed expenses

A budget is a tool that helps you plan your spending.

• True

• False

What is the primary purpose of a budget in money management?

• To track expenses

• To increase income

• To eliminate debt

• To invest in stocks