Chapter 3 Recordkeeping

_____ is a way for you to manage your money by keeping track of items you spend money on during a period of time.

• budget sheet
• budgeting
• recordkeeping

In an expense summary you determine how well you have budgeted by comparing

• apples and oranges
• what you want to what you were able to afford
• what you spent compared to what you budgeted
• your grocery expenses to your clothing expenses

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.3

You should pay yourself first, if at all possible, to 

• establish an emergency fund
• to help save money for future purchases
• to be prepared for possible financial emergencies
• all of the above

Examples of living expenses are

• rent and car payments
• car registration and insurance
• food and utliity bills

Annual expenses occur

• every quarter
• every 6 months
• once a year

Tags

CCSS.4.MD.A.2

Examples of fixed expenses are

• rent and car payments
• food and spending money
• car insurance and registration

Fixed expenses typically change (vary) from month to month.

• true
• false

Another word for items you spend money on is 

• budget
• expenditures
• summary

Find the McConnell's average monthly expenditure. 
January $2,004
February $1,897
March $2,345
April $2,426

• $26,016
• $8,672
• $2,218
• $2,168

Tags

CCSS.6.NS.B.2

CCSS.6.NS.B.3

CCSS.6.SP.A.3

CCSS.6.SP.B.5

Find the Houston's average monthly expenditure.
May $ 2,340
June $2,790
July $3,423
August $3,120

• $3,891
• $2,918.25
• $2,334.60
• $2,120

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.1

CCSS.7.NS.A.3

CCSS.7.SP.B.4