Budgeting

Front

Which two things does a budget compare?

Back

Income and expenses

Front

Which of the following is a true statement about budgets?

Back

They allow people to track how and where their money is spent

Front

In what way is a kid's budget similar to an adult's budget?

Back

Both have about the same ratio of income and expenses.

Front

If your income is $20.00 per month, how much should you spend each month to stay on budget?

Back

$20 or less

Front

prudently

Back

wisely

Front

Which of the following is an example of a fixed expense?

• shoes
• book of the month club
• cough medicine

Back

book of the month club

Front

What kind of expense would milk be for a family of five if not everyone has breakfast at home every day? Options: Fixed essential, Variable essential, Non-essential

Back

Variable essential

Front

What can you infer from Tim's practice of saving receipts?

Back

Knowing how much you spend helps you keep an accurate budget

Front

What is one consequence of going into bankruptcy?

Back

Having to some of your possessions taken away

Front

What does it mean to have a budget deficit?

Back

Their expenditures exceeded their income