Personal Finance Quiz

Money received for work, as a gift, or through investments

A plan of action that allows a person to meet not only their immediate needs but also their long-term goals

The percentage of money charged by the lender for use of its money​​​​​​​

This is your pay BEFORE taxes are taken out.

Financial debts or obligations

The amount you earn before taxes and other payroll deductions

An expression used to describe a person whose monthly income is devoted to expenses and has little to no savings

Anything that is owned by an individual, including money in the bank or investments

Expense that occurs at various times throughout the year and tends to be in large, lump sums​​​​​​​

What a person earns after payroll taxes and other deductions are taken out; often referred to as take-home pay​​​​​​​

Expense for things you don’t need

A written plan for giving, saving, and spending

The knowledge and skill base necessary for people to be informed consumers and manage their finances effectively

This is money owed to another person or company.

When you're done with your budget, it should equal:

Expense that remains the same from month to month

Expense that varies in dollar amount from month to month but that you can expect to have every month​​​​​​​

The additional cost a lender charges for borrowing their money

The amount by which the value of a person’s assets exceeds or falls behind the value of their liabilities