Financial Literacy Exam 2

What is the term for a legal agreement between a landlord and a tenant?

Which term describes income that varies from month to month?

What is the term for money earned before taxes and other deductions are taken out?

What type of insurance protects a tenant's personal belongings

What is the term for the minimum amount of money needed to maintain a basic standard of living in that specific area?

What is the price per individual unit of measurement called?

Which term describes non-essential spending on wants rather than needs?

What is the term for when expenses exceed income?

What is a savings fund for unexpected expenses called?

What is the difference between income and expenses called?

What is the term for expenses that change from month to month?

Which term describes regular expenses that remain constant each month?

What is a long-term loan used to purchase real-estate called?

What is a reduction in taxable income called?

What is the term for the initial payment made when purchasing a home?

What type of budget ensures every dollar is assigned a specific purpose?

What is the term for a financial plan that allocates income into needs (50), wants, (30), and savings (20)