Duplicate of Duplicate of Budgeting Flashcards

1

Which one is NOT one of the qualities of a good budget?

Expenses are less than income
Don't worry about saving for emergencies
Allows for pocket money or unexpected expenses (car repairs)
Includes savings for big-ticket expenses (like a car)

2

The total amount of money you earn before taxes is:

Gross Income
Variable Expense
Cash Flow
Fixed Expense

3

Rent or a car payment is an example of which type of expense:

fixed expense
Cash Flow
Variable Expense
Income

4

Money that you earn from your job

income
budget
expenses

5

This type of expense changes in price and frequency each month:

Fixed Expense
Variable Expense
Income
Discretionary Expense

6

Something you want to achieve is called a:

Goal
Paycheck
Income
Rent

7

Groceries or electricity

Variable Expense
Paycheck
Cash Flow
Fixed Expense

8

A paycheck is an example of:

Variable Expense
Cash Flow
Income
Fixed Expense

9

Snacks, games, entertainment

fixed expense
discretionary expense
Variable expense

10

The process of money coming in and the money going out is called:

Paycheck
Cash Flow
Expenses
Income

11

The goal of a budget is...

to spend all of your money
to spend less than you earn
to spend more than your earn

12

A plan for how to spend and save your money

income
expenses
budget
Loan

13

This type of expense occurs regularly and the amount doesn't change each month.

Cash Flow
Fixed Expense
Variable Expense
Income

14

Money Management enables you to:

Plan for financial emergencies
Live within your means
Meet your goals
All are correct

15

Money that you spend

budget
income
expenses

Duplicate of Duplicate of Budgeting

Questions 15

Duplicate of Duplicate of Budgeting

Questions 15