WorksheetsBudgeting
Total questions: 5
Worksheet time: 5mins
Which of the following are TRUE about gross income and net income?
They are the same thing
Gross income is the total amount earned AFTER deductions
Gross income is the total amount earned BEFORE deductions
Net income is the total amount earned BEFORE deductions
What is a "fixed expense" in a budget?
An expense that changes each month
An expense that stays the same each month
An expense you can easily eliminate
An expense that only occurs once a year
Which budgeting approach is most likely to help someone who tends to overspend on impulse purchases?
Tracking expenses after each purchase
Using only cash for non-essential spending
Automating all bill payments
Reviewing expenses at the end of each month
If an expense can NOT be removed from your budget to save money, it is considered a _____.
Income
Want
Need
Savings
