WorksheetsBudgeting review
Total questions: 19
Worksheet time: 24mins
Choose the appropriate place for each account.
For long-term saving
For short- and medium-term saving
Later on it should cover 3-6 months living expenses
At first it's $1000
For unexpected expenses
Saving for retirement
For big planned expenses
Vacation
Your first and highest priority
Match!
essential - (a)
discretionary - (b)
Money in - money out =
(a)
Money in (a) money out (b) 0
If Tina's expenses are greater than her income, what are two actions can Tina take to balance her budget?
Increase her expenses
Decrease her income
What is a good strategy to help you save?
Take care of your discretionary expenses first; hen put what's leftover into saving
Tap into your savings on a regular basis to purchase small items, like snacks
Pay yourself first - set aside money for savings each month
Keep your spending and saving money together in 1 account
Take care of your essential expenses first, then put what's leftover into saving
An emergency fund should NOT be used for…
fixing a blown tire on your car that you use to get to work.
repairing a broken pipe that's causing your basement to flood.
a last-minute hair cut before prom.
a sudden health issue that needs care.
Match the account to the time period.
Day-to-day
Checking account
Short- or medium-term
Sinking fund
Long-term
Investment account
Pay yourself (a) . Pay for your essentials (b) .
This helps you prepare for unexpected expenses.
Credit cards
Checking account
Emergency fund
Sinking fund
Saving is...
money in
money out
(a) expenses do not change. (b) expenses happen repeatedly (for example, every month).
A Netflix subscription is a (a) expense. Gas for your car is a (b) expense.
Buying a puppy is a (a) expense. Buying dog food for your puppy is a (b) expense.
Match the job to the type of pay.
Salary
WCCS teacher
Gig-based
Dog walker
Hourly
Cashier at Walmart
Commission
Realtor (sells houses)
(a) is smaller than (b) .
Match the expenses with the type of account.
Unexpected expenses
Planned expenses
Discretionary expenses
Essential expenses
A weekly or biweekly budget typically aligns with (a) . A monthly budget typically aligns with (b) .
Select all that apply. The 0 in zero-based budgeting means
you should end up with a $0 balance in your bank account.
your money in should equal your money out.
you need to give every dollar a "job."
there is no net (overall) change month to month in your primary checking account.
