Dollars & Sense Quiz 1

Money you owe or debt is your______

Money that comes in through income and goes out through expenditures is

The average American spends the largest percent of their income on_____

When you die _____ is important to your heirs.

Basics of life such as shelter, food and clothing are

The most common way to manage risk to protect your assets is _____

When you borrow money to make a large purchase you ____ it

A definition of equity is _____

Net worth = assets minus

Many people who do not have savings____ for emergencies

Things you own such as your home, cars and collections are your ____

If you take money out of savings acount to pay for a car repair, we call that