WorksheetsBudgeting Vocab
Total questions: 10
Worksheet time: 5mins
What is a budget?
A plan for unexpected expenses
A written plan for giving, saving, and spending
A list of debts
A summary of past expenses
What is income?
Money spent on groceries
Money received for work, as a gift, or through investments
Money saved in a bank
Money borrowed from a friend
What is a fixed expense?
An expense that changes every month
An expense that remains the same from month to month
An expense that occurs once a year
An expense that is optional
What is a variable expense?
An expense that is always the same
An expense that varies in dollar amount from month to month
An expense that is unnecessary
An expense that is paid annually
What is an intermittent expense?
An expense that occurs monthly
An expense that occurs at various times throughout the year in large, lump sums
An expense that is always fixed
An expense that is always variable
What is a discretionary expense?
An essential expense
An expense for things you don’t need
A fixed expense
A variable expense
What is a zero-based budget?
A budget with no savings
A cash-flow plan that assigns an expense to every dollar of your income
A budget that only tracks income
A budget that ignores expenses
What is net income?
The amount you earn before taxes
The amount you earn after payroll taxes and other deductions
The total amount of your expenses
The amount you save each month
What is gross income?
The amount you earn after taxes
The amount you earn before taxes and other payroll deductions
The amount you spend on essentials
The amount you save for retirement
What are the four basic parts of every budget?
Income, debts, loans, and savings
Income, giving, saving, and spending
Income, taxes, expenses, and savings
Income, investments, debts, and spending
