stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Budgeting Flashcards | StudBud
Explore
/
Budgeting
Budgeting
10 terms
·
StudBud Administration
·
66 plays
After completing the Financial Literacy lesson on Budgeting, try this!
Flashcards
10 cards
F
Practice quiz
P
Host live
L
Questions
10
Answers
1
Flexible expenses stay about the same each month.
False
True
2
______________ is a commonly considered a flexible expense.
Entertainment
Home insurance
A mortgage payment
Rent
3
In the final phase of the budgeting process, you
Review financial progress
Compare your budget to what you have actually spent
Monitor current spending
Set personal and financial goals
4
An example of a long-term goal would be
Saving for retirement
Completing college within the next six months
Buying a used car
An annual vacation
5
Rent is considered a fixed expense.
False
True
6
Most short-term goals are based on activities over the next two or three years.
True
False
7
A clearly written financial goal would be
“To establish an emergency fund of $4,000 in 18 months”
“To save money for college for the next five years”
“To pay off credit card bills by 2008”
“To invest in an international mutual fund for retirement"
8
An example of a fixed expense is
Clothing
Car insurance
Educational expenses
An electric bill
9
The budgeting process starts with monitoring current spending
True
False
10
A common long-term goal may involve saving for college for parents of a new-born child.
False
True
