WorksheetsUnit 5.2 Budgeting
Total questions: 35
Worksheet time: 2hrs 45mins
Which of the following is generally the most expensive category in a person’s budget?
Healthcare
Clothing
Transportation
Housing
When making a budget, a person’s needs should come before their wants.
True
False
If an expense can be cut from your budget to save money, it is considered a ______.
want
need
income
savings
Of all the choices, which one should you budget for first?
Groceries
Entertainment
Cell Phone Bill
New Car
What is a need?
Something you must have
Something you'd like to have
Something you would like to do
All of the above
8.The money an individual spends regularly for items or services.
Budget
Expense
Checking Account
Financial Plan
Fixed or variable expense: Groceries
Fixed
Variable
Car Payment is an example of what: a fixed expense or a variable expense?
Fixed Expense
Variable Expense
A financial plan is called a
budget
tax
allowance
income
Which one is a fixed (same amount, same time) payment?
food
power
mortgage
petrol
Fixed or variable expense: Rent?
Fixed
Variable
The amount of money you take home is called your
Net Pay
Gross Pay
Total Pay
Available Pay
The amount of money you make is called:
Taxes
Net Pay
Gross Pay
Available Pat
A plan for future spending and saving, weighing estimated income against estimated Expenses.
Gross Income
Debt
Expense
Budget
The amount an employee earns once taxes and other items are deducted from his or her gross pay.
Budget
Debt
Gross Income
Net Income
The state of owing money to another individual or business, or the amount of money borrowed.
Gross Income
Net Income
Debt
Budget
The total amount of money an individual has earned before taxes are taken out.
Net Income
Checking Account
Gross Income
Overdraft
The money an individual spends regularly for items or services.
Budget
Expense
Checking Account
Financial Plan
