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WorksheetsUnit 4 Budget Assessment
Total questions: 12
Worksheet time: 13mins
Short Term Goals are:
hard to reach
accomplished in less than a year
personal
categorized by wants and needs
The amount of earnings made over one month, after deductions is known as:
total annual income
net monthly income
gross monthly income
gross annual income
A record of income & expenditures for a given period is called a/an:
credit
investment
budget
interest
When budgeting, the first categories to consider are those that meet your:
wants
needs
discretionary funds
important expenses
In what category of a typical budget do people spend most of their money?
Food
Housing
Transportation
Entertainment
Jason went to the grocery store to buy a gallon of milk for his mother. While waiting in the checkout line, he say a display for a new chocolate-caramel candy bar, so he bought it too. The candy bar purchase is an example of a/an:
special treat
need
payment for running an errand for his mom
impulse buy
What is the difference between a short term & long term goal?
(a)
What does NMI stand for?
(a)
Explain what it means to follow a budget.
What does PYF mean?
(a)
Sam makes $500 a month and his expenses are $325 per month. How much is left over as discretionary funds?
(a)
Create a budget for you based on the following information. Income-250, Car-110, Gas-50, Phone 30, Gaming Service 10, Savings 20. How much is left over at the end of the month?
