Worksheets2.1 Budgeting Terms Quiz
Total questions: 30
Worksheet time: 17mins
The length of a person’s life, from birth to death. Fill in the blank: ________
Life span
Childhood
Adulthood
Generation
A plan for how to use your money (what comes in and what goes out). Fill in the blank: ________
Budget
Receipt
Invoice
Deposit
A computer tool for organizing numbers and money plans. Fill in the blank: ________
Spreadsheet
Browser
Antivirus
Word Processor
Money you earn or receive. Fill in the blank: ________
Income
Expense
Debt
Loan
Money you spend. Fill in the blank: ________
Expense
Income
Saving
Loan
Costs that stay the same each month (like rent or a car payment). Fill in the blank: ________
Fixed expense
Variable expense
Irregular income
Discretionary spending
Costs that change each month (like groceries or gas). Fill in the blank: ________
Variable expense
Fixed expense
Net income
Gross pay
Extra spending on wants, not needs (like movies or eating out). Fill in the blank: ________
Discretionary expense
Fixed expense
Essential expense
Mandatory expense
Money set aside for unexpected expenses. Fill in the blank: ________
Emergency fund
Savings account
Retirement fund
Travel fund
Giving money, goods, or time to help others. Fill in the blank: ________
Charity
Competition
Selfishness
Ignorance
Acting in ways that help society and the community. Fill in the blank: ________
Social responsibility
Personal gain
Financial profit
Self-interest
Looking at information (like numbers) to find patterns and make decisions. Fill in the blank: ________
Data analysis
Story writing
Painting
Singing
Money left over after paying for needs and bills. Fill in the blank: ________
Discretionary income
Gross income
Net worth
Fixed expenses
A list showing all money coming in (income) and going out (expenses). Fill in the blank: ________
Cash flow statement
Balance sheet
Profit and loss account
Trial balance
The value of all you own, after subtracting what you owe. Fill in the blank: ________
Net worth
Gross income
Cash flow
Credit score
Something you own that has value (like a car, house, or savings). Fill in the blank: ________
Asset
Debt
Expense
Liability
Something you owe (like loans or credit card debt). Fill in the blank: ________
Liability
Asset
Income
Equity
A document showing your assets, liabilities, and net worth. Fill in the blank: ________
Net worth statement
Income statement
Balance sheet
Cash flow statement
How quickly you can turn something you own into cash. Fill in the blank: ________
Liquidity
Solvency
Profitability
Leverage
Saving and organizing important financial papers and information. Fill in the blank: ________
Recordkeeping
Budgeting
Investing
Auditing
An official paper that can be used in court (like a contract or will). Fill in the blank: ________
Legal document
Newspaper article
Personal letter
Shopping list
Computer programs or apps that help track money. Fill in the blank: ________
Money management software
Photo editing software
Word processing software
Video streaming service
Expense – Money you ________.
spend
save
find
borrow
Match the following.
50%
Needs
30%
Wants
20%
Save/Invest
The S in SMART goal stands for:
Species
Special
The M in SMART goal stands for
Measurable
Musical
Mechanical
Mintable
The A in SMART goal stands for:
Ambitious
Actual
Artistic
The R in SMART goal stands for:
realistic
relevant
The T in SMART goal stands for:
Timely
Tested
Term
Reorder the following components of financial literacy:
Income
budget
savings
invest
debt
