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Financial Literacy-Budgeting Flashcards | StudBud
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Financial Literacy-Budgeting
Financial Literacy-Budgeting
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Financial Literacy- Budgeting
Flashcards
20 cards
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Practice quiz
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Questions
20
Answers
1
a loan to purchase a home
budget
expense
need
mortgage
2
Money earned from working
debt
net income
gross income
income
3
Median salary
The middle amount of income, You may make more or less, Varies by location
Is the least money you will make at a particular job
Is the most money you will make at a particular job
Is the average income at a particular job
4
items that are desired, but not needed to live
want
loan
income
need
5
expenses which vary from week to week or month to month
loan
mortgage
variable expense
fixed expense
6
To convert a yearly amount of money to a monthly amount of money you would need to
Subtract by 12
Add 12
Divide by 12
Multiply by 12
7
Money withheld from paycheck for taxes
Income taxes
Property taxes
Sales tax
Payroll taxes
8
financial institution where individuals often keep their savings
asset
loan
bank
debt
9
how well a job is projected to grow or decline
Job outlook
Career planning
Academic degree
Economic choice
10
the total amount of income earned before deductions are made
net income
expense
asset
gross income
11
a plan for managing income and expenses
budget
plan
finance
debt
12
What are some examples of reasons we should save money
Checking accounts and savings acounts
salary, net income, gross income, witholdings
Cleaning house, doing homework, attending school
Car repairs, job loss, home repairs, medical expenses, large purchases
13
Money set aside for the future is called
Savings
Checking
Planning
Income
14
items needed in order to live, such as clothing, food and shelter
debt
want
loan
need
15
Money spent during a period of time to pay for goods or services
fixed expense
expense
variable expense
debt
16
The field of work a person is in that includes education, training, and work experience.
Work
Job title
Career
Job
17
the price charged for a good or service
cost
debt
bank
expense
18
money borrowed to pay for goods or services that is paid back with interest over time
need
asset
want
loan
19
amount of income left after deductions are taken
budget
gross income
net income
asset
20
owing money to another individual or business; amount of money borrowed
fixed expense
asset
bank
debt
