Budgeting

Front

Which of the following is NOT a need/fixed expense? Food, Clothes, Netflix, Shelter

Back

Netflix

Front

A budget only works if...

Back

You are willing to follow it

Front

What is something financially wise consumers do?

Back

postpone major purchases until money can be saved for it

Front

Why budget? Options: prevent overspending, plan for future, save money, all of these

Back

all of these

Front

If expenses were to exceed income on a spending plan, what would be a financially smart solution?

Back

Decrease expenses

Front

A(n) _______ is a payment for a good or service
Options: budget, expense, income, cash flow

Back

expense

Front

Why is it important for budgeting to include savings?

Back

All of these: financial emergencies, exciting financial opportunities, financial security.

Front

A plan for your estimated income, expenses, and savings.

Back

Budget

Front

If your net monthly income from your job is $600, and you want to save 25%, how much would you save each month?

Back

$150

Front

The money that you receive for mowing the lawn, babysitting or making good grades is called __________. Options: income, credit, debt, interest

Back

income