Budgeting Unit Review

Budgeting Unit Review

8th Grade

23 Qs

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Budgeting Unit Review

Budgeting Unit Review

Assessment

Quiz

Other

8th Grade

Practice Problem

Easy

Created by

Khara Kelly

Used 4+ times

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23 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When looking at your paycheck, your __________________________ is the amount you were paid before taxes, and your __________________________ is your take-home pay.

Gross Pay, Net Pay

Net Pay, Gross Pay

Taxable Pay, Gross Pay

Net Pay, Taxable Pay

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Paige sets up her budget so that every single dollar is accounted for using the __________________________ strategy.

Zero-Based Budget

Envelope System

50/30/20 Rule

Pay-Yourself-First

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

__________________________ is a budgeting strategy that uses percentages to divide your income into categories.

50/30/20 Budget

Envelope System

Zero-Based Budget

Pay-Yourself-First Plan

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The __________________________ budget divides your income into needs, wants, and savings.

50/30/20 Budget

Zero-Based Budget

Envelope System

Pay-Yourself-First Budget

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A(n) __________________________ can change month to month, but a(n) __________________________ costs the same amount every month.

Variable Expense, Fixed Expense

Fixed Expense, Variable Expense

Income, Expense

Asset, Liability

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a person spends all of their income on living expenses and has nothing left over for anything else they are __________________________ .

Living Paycheck to Paycheck

Financially Independent

Saving for Retirement

Investing in Stocks

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

__________________________ is a strategy where individuals prioritize saving by putting a portion of their income into savings before paying other expenses.

Pay Yourself First

Zero-Based Budgeting

Debt Snowball Method

Envelope System

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