Money Management

Question 1

If you estimate your monthly income and expenses, you are creating a what?

Accepted Answer

Budget

Question 2

You don’t need to record each check you write because the bank has a copy of it.

Accepted Answer

False

Question 3

Are your grocery expenses each month a fixed expense or a flexible expense?

Accepted Answer

Flexible

Question 4

It is wise to compare at least 3 apartments/houses when trying to find a place to live.

Accepted Answer

True

Question 5

Electricity, water and gas are examples of this.

Accepted Answer

Utilities

Question 6

On your check, you only need to write the numerical amount of the item being purchased.

Accepted Answer

False

Question 7

Is food a want or a need?

Accepted Answer

Need

Question 8

Are clothes a want or a need?

Accepted Answer

Need

Question 9

It’s okay to occasionally not know that balance in your bank account.

Accepted Answer

False

Question 10

Is a car a want or need?

Accepted Answer

Want

Question 11

These are taken out of every employee’s paycheck.

Accepted Answer

Taxes

Question 12

It is good money management to track your spending each month.

Accepted Answer

True

Question 13

When renting a place to live, it is not important to get information about amount of deposits.

Accepted Answer

False

Question 14

This is a sum of money put (added) into a bank account.

Accepted Answer

Deposit

Question 15

Good money management practice includes paying your bills before the date they are due.

Accepted Answer

True

Question 16

This is the money spent on something.

Accepted Answer

Expenses

Question 17

Is jewelry a want or a need?

Accepted Answer

Want

Question 18

Is your rent or house payment a fixed expense or a flexible expense?

Accepted Answer

Fixed

Question 19

What do you pay to use someone else’s property?

Accepted Answer

Rent

Question 20

When writing a check, it is important to create a unique signature to avoid someone copying it.

Accepted Answer

True

Question 21

This is what is charged when you are late with a bill payment.

Accepted Answer

Late fee

Question 22

When you take money from your pocket & buy chips from the vending machine that is called what?

Accepted Answer

Transaction

Question 23

The amount of money you have in the bank at a certain time, is called what?

Accepted Answer

Balance

Question 24

Is your electric bill a fixed expense or flexible expense?

Accepted Answer

Flexible

Question 25

This is what an employee is given for the work they perform.

Accepted Answer

Paycheck

Money Management

Questions 25

Money Management

Questions 25