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WorksheetsSOYO Spending Plans Review
Total questions: 12
Worksheet time: 7mins
Which of the following is a fixed expense?
mortgage
food
clothing
gasoline
Which of the following is a flexible expense?
auto loan
food
cable
garbage collection
What is an element of a well written financial goal?
unrealistic
complex
specific
vague
On average the smallest major expenditure is which of the following?
housing
transportation
savings
insurance
In financial planning, a (a) is defined as something unnecessary but desired.
True or False? An individual's financial plan will vary depending only upon one's financial goals.
True
False
True or False? The first step that should be completed when creating a spending plan is to allocate money to income and expense categories.
True
False
A process used to achieve financial success based upon financial goals and plans is called (a) (2 words)
True or False? The method each individual uses to allocate his or her money is different based upon needs, values and wants.
True
False
True or False? Spending plans are comprised of income, expenses, and net gain/loss.
True
False
True or False? If expenses exceed income on a spending plan, it is a smart financial solution to either earn more income or decrease expenses.
True
False
Which of the following is NOT a control method for spending plans?
envelope system
spending plan template
check register system
credit card system
