Unit 5 Earnings and Budgeting Flashcard

Front

Which of these costs would be the MOST difficult to adjust if you were looking to reduce your expenses? Options: Dining out at local restaurants, Loan payment on a new car, Expenses for new clothes, Postponing a purchase for a big-screen TV

Back

Loan payment on a new car

Front

If you are trying to substantially reduce the amount you spend on food, you should try...

Back

Cooking your own food at home for as many meals as possible

Front

Leila just graduated from college and is comparing a few different cities to move to. Which of these factors is the LEAST important thing for her to consider right now? Average rent for an apartment, Food and grocery store options in the area, Employment opportunities, Average cost of Uber, Lyft, or taxi fare

Back

Average cost of Uber, Lyft, or taxi fare

Front

Greg is trying to decide whether he needs a car when he moves to the city. Which of the following would be a reason for Greg to get a car rather than use public transportation?

Back

Using public transportation, Greg’s commute to work one-way is two hours

Front

Isaiah has a summer internship at a technology company and is paid $3,000. After Federal and state taxes, Social Security, and Medicare are deducted, his take-home pay is $2,500. Which of the statements below is correct?

Back

His gross pay is $3,000 and net pay is $2,500.

Front

You are interested in renting an apartment after graduating college. You meet with the landlord and complete the application. All of the following may need to be provided when you sign your lease EXCEPT: Proof of employment, A bank account, First and last month's rent, A security deposit

Back

A bank account

Front

Which of your expenses would likely decrease by having roommates when moving into a 3 bedroom apartment with 2 roommates?

Back

Rent

Front

Who provides Bryan's health insurance and retirement plan?

Back

Bryan has to fund them himself

Front

You overhear your cousin talking about the importance of creating and sticking to a budget. All of the following are good reasons to create and stick to a budget EXCEPT:

Back

Having a budget is a requirement for obtaining a mortgage

Front

Which one of these expenses most likely represents a VARIABLE cost in someone's budget?
Options: Electricity bill, Rent, Car insurance premium, Student loan payment

Back

Electricity bill