Effective Personal Money Management

Setting money aside to use in the future

• Budget

• Expense

• Income

• Saving

It is not important to consider saving money for the future.

• True

• False

Where does the money come from for a household to survive on a monthly basis?

• Emergencies

• Income

• Expenses

• Savings

The process of projecting, organizing, monitoring, and controlling future income and expenses is known as ________________.

• Budgeting

• Investing

• Personal Finance

• Money Management

In case of emergency you should have what...

• Good Credit

• Money Saved

• Budget Plan

• Credit Card

Choose the correct definition of budget.

• A. a tool for planning and keeping track of how much

  money is saved and how much is spent

• B. a tool for increasing income and costs

• C. a tool for making decisions about jobs or careers

• D. a tool for finding more resources to produce goods

Every month after my parents pay all of the family’s bills they set aside a little bit of money for the family to do fun things like go to the movies, bowling and even go to amusement parks.
My family uses a _____________

• income 

• debt 

• interest 

• budget 

What is the primary purpose of creating a personal budget?

• To track daily expenses

• To plan for future financial goals

• To increase monthly income

• To reduce taxes

Which of the following is considered a fixed expense in personal finance?

• Groceries

• Utility bills

• Rent

• Entertainment

What is an emergency fund?

• Money set aside for unexpected expenses

• A fund for planned vacations

• A savings account for buying a car

• An investment in stocks