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WorksheetsBudget Quiz
Total questions: 20
Worksheet time: 10mins
Money that you earn.
Asset
Expense
Income
What is an expense?
Money that you spend or give away.
Money that you earn.
Money that you put away for later.
Money that you put away or in a bank for the future.
Expense
Savings
Income
What is overspending?
Using money you get to spend.
Using more money than you have available.
Using money you have in the bank.
A plan for spending and saving.
Budget
Savings
Income
An expense that does not change from month to month.
Variable expense
Fixed expense
Unexpected expense
What is a variable expense?
An expense that changes every month.
An expense that is unexpected.
An expense that is the same month to month.
Something thought to be an essential item required for life (food, water etc.).
Need
Want
Desire
Something unnecessary but you desire.
Need
Want
Expect
What are goals called that take more than a year to accomplish?
Short-term goals
Long-term goals
Expenses
What are goals called that take less than a year to accomplish?
Short-term goals
Long-term goals
Expenses
Money earned after taxes and other deductions.
Net income
Gross income
Monthly income
What is unplanned, compulsive spending called?
Impulse buying
Planned buying
Budgeted buying
What is the rule that says you should always set aside a portion of your income to save?
Pay yourself first.
Pay your bills first.
Spend what you want first.
What is a record of income and expenses and a plan for managing your money called?
Budget
Income
Equity
What is money that is earned through wages, salary, tips, and interest from savings called?
Income
Expenses
Savings
What do families spend most of their money on?
Transportation
Housing
Food
What is it called when you don't have enough money?
Shortage
Overage
Balance
What is it called when you have money left over at the end of the month after expenses?
Shortage
Surplus
Balance
Which of the following is a type of expense?
Fixed
Variable
Periodic
All the answers
