WorksheetsUNIT 5: Budgeting & Expenses
Total questions: 12
Worksheet time: 7mins
The monetary cost of goods or services that are required to be paid in regular intervals are (a) .
Expenses are typically paid in (a) intervals.
(a) are tangible objects. (b) are when you pay others to do something for you and are intangible. (c) is an example of a good. (d) is an example of a service.
Needs vary based on the type of community you live in - rural, urban, suburban.
True
False
Match the term to its proper definition.
Expenses that change from month to month.
variable
Expenses that remain the same from month to month.
fixed
Essential/necessary for survival
need
Not necessary for survival/will improve your quality of life
want
A (a) is something that is (b) to survive. A (c) is (d) for survival but will improve your quality of life.
(a) expenses are the same amount of money each month; they are (b) . (c) expenses change each month; they are (d) .
The money remaining after all of your monthly expenses have been paid is a __________.
need
want
deficit
surplus
When your expenses are higher than your income, you will be left with a __________.
need
want
deficit
surplus
Match the term to its proper definition.
A plan that is implemented to provide financial structure when managing your income and expenses.
budget
Money reserved for times of financial hardship. The recommended amount for this fund is three to six months worth of monthly expenses.
emergency fund
Making purchases without planning or evaluating your current or future financial situations.
impulse shopping
Repeated routines and practices you have around spending money on goods and services.
spending habits
Organize the expenses into their proper categories.
Rent
Mortgage
Streaming services
Car payment
Groceries
Gas for car
Utilities
Dining out
Clothing
Credit card payment
Organize the expenses into their proper categories.
Rent
Mortgage
Streaming subscription
Car payment
Groceries
Gas for car
Utilities
Dining out
Designer clothing
