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Money Management Review Flashcards | StudBud
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Money Management Review
Money Management Review
15 terms
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StudBud Administration
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141 plays
Budgeting, Special Education, high school
Flashcards
15 cards
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Practice quiz
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Questions
15
Answers
1
Giving up the next best choice when making a decision.
Opportunity Cost
Fixed Expense
Emergency Fund
Variable Expense
2
What type of goal would you create to purchase something in a year?
Long-term
Financial-term
Short-term
Medium-term
3
A budget helps you do the following:
keep from overspending
reduce wasteful spending
Control where your money goes
all of the above
4
Saving a certain amount of money to be used later for financial goals.
Spending log
Cash flow
P.Y.F.
Income
5
If your monthly income is less than your expenses, you will need to make more money, or:
ask for a raise
stop putting money in savings
spend more money
spend less money
6
Which of these is NOT a strategy to help stick to a spending plan?
review plan regularly
write out goals
keep your plan in your head
tell others about goal
7
What is a written plan that helps you make the most of the money you spend?
fixed expenses
A budget
income
short term goal
8
Setting aside money to have on had for unexpected expenses and events.
Cash Flow
Spending log
Emergency Fund
P.Y.F.
9
Expenses that must be paid regularly, and are the same amount every month are called:
flexible expenses
fixed expenses
rent
car insurance
10
Predictable amount of money spent to buy something or do something that is the same every time.
Emergency fund
Variable Expense
Fixed Expense
Opportunity Cost
11
What is a belief or idea you consider important or desirable?
Need
Value
Perception
Want
12
There are five steps to creating a budget, including estimating _____________ and ____________.
meals and transportation
taxes and net pay
income and expenses
your height and weight
13
To balance your budget you must subtract your expenses from your _____________?
income
rent
taxes
allowance
14
Any money you receive such as an allowance or paycheck.
Income
Cash Flow
P.Y.F.
Spening Log
15
Which of following is considered a need?
Iphone
New Car
Rolex watch
Some sort of shelter