Money Management & Budgeting – Fill in the Blank (30 Questions)

A __________ is a plan that shows how much money you expect to earn and spend.

• budget

• receipt

• invoice

• contract

Money you receive from work, gifts, or other sources is called __________.

• income

• expense

• debt

• allowance

An __________ is any money that you spend.

• expense

• income

• saving

• loan

__________ expenses stay the same each month, like rent or car payments.

• Fixed

• Variable

• Irregular

• Discretionary

__________ expenses change from month to month, like utility bills or groceries.

• Variable

• Fixed

• Annual

• Irregular

__________ expenses are non-essential and based on personal wants.

• Discretionary

• Fixed

• Mandatory

• Obligatory

A __________ is something you must have to live, such as food or housing.

• need

• want

• gift

• luxury

A __________ is something you would like to have but is not essential.

• want

• need

• necessity

• requirement

A __________ account is used for everyday transactions like paying bills.

• checking

• savings

• retirement

• investment

A __________ account helps you save money over time and may earn interest.

• savings

• checking

• loan

• credit