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Basic Budgeting Questions Flashcards | StudBud

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Basic Budgeting Questions

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Questions 13

Answers

1
What is money that you receive called?
Income
Budget
Expense
Treat
2
What is an expense?
Receipts
Money that you spend (bus fare, snacks, books)
Profits
Paycheck
3
When you owe the bank money
This is income
This is debt
This is investment
4
Paychecks and allowances are
Income and Expense
Income
Expense
Neither Income nor Expense
5
Benefits of budgeting time are...
Having the opportunity to sleep more
Having the opportunity to study at the last minute
The opportunity to fit all that you want to do into the day
Having the opportunity to stay outside longer
6
A written plan for how to save, spend and invest money.
Notes
Monopoly
Budget
Tool
7
Income, Savings and Expenses
All parts of the budget
All parts of a tool
All parts of math
All parts of a worksheet
8
Food, clothes, bus fare, ipads, books are
Expenses
Neither Income nor Expenses
Both Income and Expenses
Income
9
Why is budgeting important?
To make more money
For opening a bank account
Helps you manage your money
Because math is fun
10
Money management is....
A job working on the time
A person who manages your money
Budgeting your money
Watching your money
11
Should your expenses be greater than your income?
Yes
Sometimes
No
Maybe
12
Is money the only thing you can budget?
No
Yes
13
How do you calculate the income after expenses?
Total monthly income – Total monthly expenses
Total monthly income – Total monthly income
Total monthly income – Total monthly investment