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WorksheetsWISE Budgeting Vocabulary (Porzio)
Total questions: 14
Worksheet time: 7mins
Name
Class
Date
1.
a)
budget
b)
trade off
c)
goal
d)
disposable income
2.
a)
trade off
b)
opportunity cost
opportunity cost
opportunity cost
c)
want
d)
balanced budget
3.
a)
budget
b)
financial plan
c)
spending plan
d)
income cycle
4.
a)
emergency fund
b)
surplus
c)
disposable income
d)
discretionary income
5.
a)
budget
b)
spending plan
c)
balanced budget
d)
allocation model
6.
a)
want
b)
need
c)
fixed expense
d)
variable expense
7.
a)
variable expense
b)
needs
c)
wants
d)
fixed income
8.
a)
trade off
b)
wants
c)
needs
d)
balanced budget
9.
a)
opportunity cost
b)
discretionary income
c)
wants
d)
short term goal
10.
a)
income
b)
surplus
c)
pay yourself first
d)
income
11.
a)
needs
b)
fixed expenses
c)
goals
d)
variable expenses
12.
a)
wants
b)
needs
c)
fixed expenses
d)
variable expenses
13.
income remaining after deduction of taxes and other mandatory charges, available to be spent or saved as one wishes.
a)
discretionary income
b)
disposable income
14.
income remaining after deduction of taxes, other mandatory charges, and expenditure on necessary items.
a)
discretionary income
b)
disposable income
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