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Personal Financial Literacy - Budgeting Flashcards | StudBud
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Personal Financial Literacy - Budgeting
Personal Financial Literacy - Budgeting
11 terms
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StudBud Administration
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125 plays
The learner will locate ways to earn money. The learner will using a price chart
Flashcards
11 cards
F
Practice quiz
P
Host live
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Questions
11
Answers
1
Creating
a spending plan allows you to determine whether or not if you have enough money to
spend
True
False
2
Needing money is a want
True
False
3
Why Can’t I Budget More Money Than I Have?
I'll buy now pay later
I do not have the funds
I'll over pay
I'll get extra cash later
4
What If I Can’t Cover My Overspending? What Happens Then?
I can't spend money on anything
I'll do without it
I am out of money
i'll just borrow the money
5
If I only have $20, I can purchase something for $20.50
False
True
6
What does it mean to budget?
estimate amount you can't use
estimate amount how much I can spend
7
How Can I Plan?
By taking a guess
Asking someone to help me
Look at what I need to purchase
8
How Do You Budget If You Have A Variable Income And/Or Untraditional Pay Cycle?
You look at the money you have
You record your spending as it occurs, checking your budget as you go.
always enter money when it arrives, and not a moment before.
Always take a guess
9
The 1st step in determining a budget is to calculate your expenses
False
True
10
The
purpose of budgeting
is basically to planout what you need to spend or save
False
True
11
Is it necessary to have a budget?
True
False
