Budgeting

Which of the following is NOT a need/fixed expense?

• Food

• Clothes

• Netflix

• Shelter

A budget only works if.....

• You are willing to follow it
• if someone else creates it
• your parents give you money 

What is something financially wise consumers do?

• postpone major purchases until money can be saved for it
• spend now, figure out how to pay for it later
• worry about emergencies when they happen
• set only short term financial goals

Why budget?

• prevent overspending

• plan for future

• save money

• all of these

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

• Earn less income
• Decrease expenses
• Increase purchases
• Use a credit card more often

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A(n) _______ is a payment for a good or service

• budget
• expense
• income
• cash flow

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Why is it important for budgeting to include savings?

• financial emergencies

• exciting financial opportunties

• financial security

• all of these

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

• Credit Rating
• Budget
• Bankruptcy
• Financial Goals

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

• $125

• $150

• $200

• $250

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The money that you receive for mowing the lawn, babysitting or making good grades is called__________. 

• income 
• credit 
• debt 
• interest