Money Management and Financial Planning

An example of a variable cost is a car payment

The amount of money you plan to use for a certain budget category

Fixed expenses occur regularly and are for the same amount

A payment for rent represents 

A good first step in financial planning would be to

A tax sheltered retirement plan in which people can annually invest earnings

A tax on earnings would be an _______ tax

A budget can help you buy wisely and avoid credit problems.

The difference between your personal assets and your personal liabilities if your

A common source of retirement income is 

Savings accounts and a home are examples of 

Take home pay is the amount you have left in your paycheck

This tax is based upon the value of land and buildings.

A person's taxes can be reduced by

Retirement planning is usually considered a short-term goal.

A gift tax is based on the value of a person's property at death.

Which of the following is a fixed expense?

Occurs when actual spending is less than budgeted spending

A ___________________ reports net wages and other income along with spending for a period.

A long term financial goal usually involves 

Items of value

Setting financial goals is the _____ step in creating and using a budget