Budget

The term ______________ is used to explain a person's income that does not vary with each period could include wages, salary, insurance & rent.

• Fixed Income

• Variable Income

_____________ is an income that can vary each time the person receives it. Could include tax rebates, overtime

• Fixed Income
• Variable Income

Tags

CCSS.3.OA.D.9

A _____ is something that is necessary for humans to live a healthy life an example could be food, water, medical, housing, clothing

• Need 
• Want

Tags

CCSS.RI.5.2

CCSS.RI.6.2

CCSS.RL.1.2

CCSS.RL.2.1

CCSS.RL.K.2

A ______ is something that is desired e.g. computer, holiday, car, cell phone

• Need 
• Want

Tags

CCSS.RL.11-12.6

Doing a budget does not:

• Show if you are overspending in an area
• Make overspending more likely
• Remove guilt and shame sometimes associated with purchase
• Make your money go further

Your monthly budget should include:

• Variable expenses
• Discretionary Expenses
• Fixed Expenses
• All of the above

Rent is a:

• Fixed expense
• Discretionary Expense
• Variable expense
• Intermittent expense

Groceries are a:

• Fixed expense
• Variable expense
• Intermittent expense
• Discretionary expense

A written budget, if followed, removes ______from your finances.

• Overspending
• Guilt
• Management  by crisis
• All of the above

Budgeting is crucial to your financial success.

• True
• False

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.1

CCSS.7.NS.A.2

CCSS.7.NS.A.3

CCSS.7.RP.A.1

CCSS.7.RP.A.2

CCSS.7.RP.A.3