Personal Finance Budgeting

A plan for how to manage your money is called a ?

• income

• budget

• expense

• investment

What is income?

• the amount you spent

• the amount you don't save

• money that you earn

• money that spent on expeneses

What is variable expense?

• The amount of money you spend

• The amount of money you save

• An expense that costs different amounts every month

• The variable in math

money earned

• salary
• income
• purchase
• spend

Jeremiah finished medical school and became a doctor. His new yearly income is $95,000 per year. In a budget this is called his...

• salary
• scarce
• interest
• lend

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

• government

• geography

• judicial branch

• personal finance

What is a savings?

• Money set aside for later use

• Money you use to buy gas

• Money used to purchase a bike

• Money in your pocket

A person who buys goods and services

• consumer
• entrepreneur
• resource
• currency

Why is it important to keep a budget?

• Budgets make sure you do not spend more money than you can afford.

• Budgets can help you save for large purchases.

• Budgets show you how much money you get and spend.

• All of the above.

What do households offer to the economy?

• Labor

• Goods

• Factories

• Railroads