Major Expenditure Mania Worksheet

Question 1

Three expenses NOT included in the five major Expenditure Categories

Accepted Answer

Clothing, Entertainment, donations

Question 2

License and registration is an expense for.....

Accepted Answer

Transportation

Question 3

Fuel is an expense for.....

Accepted Answer

Transportation

Question 4

Explain how values, needs, and wants influence spending decisions.

Accepted Answer

Explains why you spend the money you way do

Question 5

Monthly payment is an expense for.....

Accepted Answer

Both

Question 6

Why is it important to include savings in a spending plan?

Accepted Answer

Pay Yourself First Strategy

Question 7

Required citizen charges by local, state, and federal governments

Accepted Answer

Taxes

Question 8

Insurance is an expense for.....

Accepted Answer

Both

Question 9

Pays for items such as medicine and x-rays

Accepted Answer

Health Insurance

Question 10

Financial statement used to assist with money management

Accepted Answer

Spending Plan

Question 11

Amount of money earned before payroll withholdings

Accepted Answer

Gross Income

Question 12

Money earned

Accepted Answer

Income

Question 13

Amount of money left after payroll withholdings have been deducted

Accepted Answer

Net Income

Question 14

Maintenance is an expense for.....

Accepted Answer

Both

Question 15

How should the major expenditure percentages be used in an individual’s spending plan?

Accepted Answer

As a guideline to adjust to fit your individual needs

Question 16

Electricity, Water Garbage is an expense for.....

Accepted Answer

Housing

Questions 16