Understanding Budgeting Basics Exam

Front

What two things does a budget compare?

Back

Income and Expenses

Front

Paying with a ______ _____ takes cash of your checking account.

Back

Debit Card

Front

This occurs when money is withdrawn from a bank account and the available balance goes below zero.

Back

overdraft

Front

Expenses that stay the same every month are _________ expenses. Rent would be an example.

Back

fixed

Front

Something unnecessary but desired that usually improves the quality of life (video games, DVD's, etc.)

Back

want

Front

People who don't budget their money may ...

Back

Overspend, Go into debt, Be stressed.

Front

The money your parents give you weekly for school and food when you are young is called

Back

allowance

Front

Sales tax is __________ to the price.

Back

added

Front

Is a cell phone bill a fixed or variable expense?

Back

Fixed

Front

Each purchase is a loan that is repaid later. What type of card is this?

Back

Credit Card