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Budgeting Vocabulary Quiz

Total questions: 10

Worksheet time: 6mins

Name
Class
Date
1.

What is the pay that you take home called?

a)

Gross Pay

b)

Deductions

c)

Net Pay

d)

FICA

2.

What is your pay before deductions?

a)

Net Pay

b)

FICA

c)

Medicaid

d)

Gross Income

3.

What is an estimate of income and expenditure for a set period of time.

a)

Budget

b)

Government Spending

c)

Allowance

d)

Expenses

4.

Which one is NOT a need?

a)

Housing

b)

Clothing

c)

Food

d)

Candy

5.

What is the rule for you to live by?

a)

50/30/20

b)

50/25/25

c)

It's my money, I do what I want with it.

d)

40/40/20

6.

Which is a tax levied by a government directly on income.

a)

State Tax

b)

Income Tax

c)

FICA

d)

Medicaid

7.

The bank or investing is the best place to put this money?

a)

Bill Money

b)

Income

c)

Savings

d)

Disposible Income

8.

What is a want?

a)

Shelter

b)

Clothing

c)

McDonald's meal

d)

Water

9.

Net pay is?

a)

The difference between gross pay and deductions

b)

The difference in FICA and Medicaid

c)

What you make hourly

d)

I don't know

10.

What class is this

(a)