WorksheetsPersonal Budgeting Terms
Total questions: 15
Worksheet time: 8mins
Budgeting
Process of creating a plan to spend and save money
A method of investing in stocks
A way to calculate taxes owed
A strategy for increasing debt
Money Personalities
Categories in which people can be put based off of their spending and saving habits
Types of currencies used around the world
Different investment strategies for wealth accumulation
Methods of budgeting for personal finance
Spender
Individual who enjoys spending money on himself/herself or others
A person who saves money diligently
Someone who invests in stocks and bonds
A person who avoids financial transactions
Spending Wants
Expenses that are necessary for survival
Expenses which help an individual to live more comfortably
Expenses that are always fixed
Expenses that can be avoided easily
Security Seeker
Individual who plans for the future and is prepared for any type of financial situations
Person who avoids all financial risks
Individual who spends without saving
Someone who relies solely on luck for financial success
Budget
Itemized summary of the expected income and expenses for a defined period of time
A plan for saving and spending money over a period of time
A detailed report of past financial performance
A list of all financial transactions made in a year
Short-Term Goals
Goals set to be achieved in less than a year of time
Goals that take more than a year to achieve
Goals that are never achieved
Goals that are set for a lifetime
Assets
Individual’s belongings which have value
Items that are worthless
Things that cannot be owned
Temporary possessions without value
Creating a Personal Budget
The process of planning how to spend and save money
A method for investing in stocks
A way to track daily expenses
A strategy for reducing debt
Spending Needs
Expenditures which are essential for an individual to live and function
Optional expenses that enhance quality of life
Savings set aside for future investments
Discretionary spending on luxury items
Flyer
Individual who prioritizes financial stability above all else
Individual who is indifferent to money and its importance
Individual who actively seeks wealth and material possessions
Individual who believes money is the root of all evil
Intermediate-Term Goals
Goals set to be achieved in about five to 10 years
Goals set to be achieved in less than a year
Goals set to be achieved in 10 to 20 years
Goals set to be achieved in more than 20 years
Saver
Individual who likes to save money rather than spend money
Person who spends money freely
Someone who invests all their money
A person who avoids financial planning
Long-Term Goals
Goals set to be achieved in about 10 or more years
Goals that can be achieved within a few months
Goals that are set for the next year
Goals that are not measurable
Risk Taker
Individual who enjoys investing money into high-risk ventures
Person who avoids any form of investment
Someone who only invests in government bonds
A person who prefers saving over spending
