WorksheetsPersonal Discretionary Spending
Total questions: 15
Worksheet time: 8mins
Which term means buying goods according to what one want or needs?
Fixed Expenses
Discretionary Spending
Flexible Expenses
Budget
What is the term for factors that motivate or influence human behavior?
opportunity costs
assets
income
incentives
Melissa is having a bad day after school and decides to take a trip to Publix. During her shopping trip she decides to spend her allowance on chips and soft drinks. What type of expense is this?
Essential Expense
Discretionary Expense
Operating Expense
Rent Expense
Wyatt's bills have been extremely high for the month. He decided to take a look at his personal budget he set up in Excel, and found that has rent has been raised by 10% compared to last month due to a new security installation. What type of expense is this?
Discretionary
Essential
Disposable
Bimodal
Which of the following defines a budget?
A plan to increase income
A plan to match expected expenses with expected savings
Something that will decrease your wants and needs
Spending and savings plan based on expected income and expenses
House payments (mortgages), car loans, and student loans are all examples of:
Disposable income
Fixed expenses
Personal records
Variable expenses
Your _____ income is the money you have left to spend or save after taxes and other required deductions are taken:
Gross income
Net/Discretionary income
Remaining income
Taxable income
______ expenses are costs that do not change from month to month.
Disposable income
Fixed expenses
Miscellaneous expenses
Variable expenses
Which of the following would be considered a long-term need?
Car repair
Home ownership
Major appliance purchase
Weekend getaway vacation
The amount an individual or business makes after deducting expenses.
Variable expense
Loss
Net Income
Income
A cost that a business or household CAN survive without.
None of these
Discretionary expenses
Need
Necessity
