Finance Vocabulary Quiz

What is a Budget?

• A plan to spend and save money

• A type of income

• A method of payment

• A financial goal.

Fill in the blank: _______ is the money needed to pay for something.

• Income

• Expense

• Savings

• Debt

What are Savings?

• A) Money set aside for future use

• B) A type of debt

• C) A spending plan

• D) A payment method

Fill in the blank: A _______ helps you decide how to allocate money for expenses and savings.

• Budget

• Spending Plan

• Consumer Skill

• Financial Goal

What are Consumer Skills?

• Abilities to make informed spending decisions

• A type of income

• A financial goal

• A payment method

Fill in the blank: _______ are different ways to pay for goods and services.

• Savings

• Payment Methods

• Budgets

• Expenses

What are Financial Goals?

• Specific objectives related to money management

• A type of debt

• A spending plan

• A payment method

Fill in the blank: Understanding the difference between needs and wants helps in _______.

• Budgeting

• Expense Tracking

• Financial Literacy

• Spending

What is Expense Tracking?

• Recording and monitoring spending

• A type of income

• A financial goal

• A payment method.

Fill in the blank: _______ is money a person earns by working or investing.

• Debt

• Income

• Savings

• Expense