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Money Management - Budgeting Flashcards | StudBud
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Money Management - Budgeting
Money Management - Budgeting
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4 plays
Budget Review
Flashcards
16 cards
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Practice quiz
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Questions
16
Answers
1
Which type of expense is the easiest to adjust when you are low on $$$$
Going out to Restaurants
Rent
Bills
2
Which of the following is considered a fixed expense?
Rent
Netflix
HULU
Fast Food
3
Which of these costs would be the MOST difficult to cut down on if looking to reduce your expenses?
new clothes
Dining out at local restaurants
monthly payments on a new car
4
Why is it important to have money in your Savings??
all answers are correct
In case you get hurt in an accident
In case your car needs major repairs
In case you get fired
5
What protects consumers from unexpected expenses (like a car accident)?
Insurance
Credit cards
Borrowing Money
6
What is budgeting?
a plan for spending your money
spending all of your paycheck
7
Owned items of value are considered your _________________?
Assets
budgets
8
Money left over after paying for essentials such as rent, bills, clothing, transportation is
Money I can put in my Savings
both are correct
Money I can spend on what I want
9
Experts say that you should have _____ months of savings in your savings account
6 Months
2 Month
1 Month
10
The main risk of a
credit card
is that you could put yourself in debt if you aren't able to pay back
True
False
11
What percent of americans actually create a detailed budget for each month?
50%
30%
80%
12
Paying your bills on time will help your.....
health
credit score
13
When you find a place to live you must pay your...
Postmates
(Rent/mortgage)
Netflix
14
Budgets help us see the things that we need and things we can live without.
False
True
15
On average, how much does a working American spend on Starbucks per year?
$75
$500
$1,100
16
Where do people track their spending/record their expenses
budget app or worksheet
paper in their wallet