WorksheetsBudgeting
Total questions: 10
Worksheet time: 7mins
Name
Class
Date
1.
When making a budget, a person’s needs should come before their wants.
a)
True
b)
False
2.
A tax is also known as a financial plan.
a)
False
b)
True
3.
If an expense can NOT be removed from your budget to save money, it is considered a _____.
a)
Income
b)
Want
c)
Need
d)
Savings
4.
Preparing a budget includes
a)
Income, Expenses, Saving
b)
Only listing your expenses
c)
Only listing your debts
d)
Only listing your income
5.
Is this an income or expense?
Pocket money
a)
Income
b)
Expense
6.
Which of the following is generally the most expensive category in a person’s budget?
a)
Healthcare
b)
Clothing
c)
Transportation
d)
Housing
7.
A record of income and spending and a plan for managing money.
a)
Discretionary Income
b)
Expenditures
c)
Budget
8.
When making a budget, a person’s needs should come before their wants.
a)
True
b)
False
9.
1.A plan for future spending and saving, weighing estimated income against estimated Expenses.
a)
Gross Income
b)
Debt
c)
Expense
d)
Budget
10.
Telling your money what to do, not wondering where it went is . . .
a)
a budget
b)
gross income
c)
assertive financing
d)
cash surplus
100 %
