BC2, Chapter 28, Managing Personal Finances

The difference between a budgeted amount & the actual amount you spend is called a budget __ .

Which term refers to money taken out of your pay before your receive your paycheck?

Which is the best definition of personal financial planning?

The first step in the budgeting process is __.

If you spend less than you budgeted you will have a budget __.

Planning a budget involves __ steps.

Planning your personal finances is important because it will help you __.

Which term refers to expenses that occur regularly and are regularly paid?

What is the difference between a budgeted amount and an actual amount?

A method of planning to get the most from one’s money is called __.

The first step in the financial planning process involves __ .

Personal finance refers to all the things in your life that involve __.

Which term refers to a plan for using your income in a way that best meets your wants and needs

Which term refers to the risk of a general increase in the cost of goods and services?

Which is NOT a way to limit your financial risk?

The ability to easily convert financial resources into cash without loss in value is called __.

The last step in the financial planning process involves __.

What is one effect of spending more money than you receive as income?

Which term refers to giving up something by making one choice instead of another?

Which term refers to purchases that you can choose to make or not?

Which term refers to things you want to accomplish?

A general increase in the cost of goods and services is called __.

What you give up when you make one choice instead of another is sometimes called a __.

Which term refers to the risk that you may have to withdraw your savings or investments?

Part of the __ of going to college is the money you would have made at a full-time job.

A good budget helps people set __ for spending and saving, and it also helps track their money.

The financial planning process has __ steps.

Take home pay is another name for __.

Amounts that are taken out of your pay before you receive your paycheck are called __.

Which is NOT one of the six steps of financial planning?

Which term refers to the actual amount of money you earn/receive during a given period of time?

Which term refers to extra money that can be spent or saved, depending on your goals & values?

Expenses that occur regularly and are regularly paid are called __.

If your gross pay for one week is $1,000, your net pay will be __ .

Diversification of your assets is one way to __ risk.