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WorksheetsChapter 19: Managing Your Money
Total questions: 10
Worksheet time: 5mins
Name
Class
Date
1.
1. What is the term for a plan for saving and spending money based on your income and expenses?
a)
Cash Flow
b)
Business Plan
c)
Budget
d)
Taxes
2.
2. Expenses that change each month are called...
a)
Fixed
b)
Flexible
c)
Income
d)
Actual Expenses
3.
3. Developing a strategy to meet present and long-term financial needs is called...
a)
Investing
b)
Strategizing
c)
Financial Planning
d)
Saving
4.
4. The first step in making a budget is to...
a)
Keep records of your spending
b)
Decide on your goals
c)
Increase your income
d)
Decrease your expenses
5.
5. An example of a fixed expense is...
a)
Concert Tickets
b)
Rent and Car Payments
c)
Clothing and Magazines
d)
Medical Costs
6.
6. An example of flexible expense is...
a)
Car Payments
b)
Rent
c)
Clothing
d)
Insurance
7.
7. Financial records are only useful if they are...
a)
Handwritten
b)
Filed Alphabetically
c)
Computerized
d)
Reviewed Regularly
8.
8. Your income should be...
a)
Less than you spend
b)
Two times more than your spend
c)
At least as much as you spend
d)
Half as much as you spend
9.
9. As you move toward adulthood, your financial responsibility...
a)
Increases
b)
Decreases
c)
Stays the same
d)
Is not important
10.
10. Your financial plan may require change if you...
a)
Get married
b)
Change jobs
c)
Experience Inflation or Recession
d)
Any of these things
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