Budgeting/Personal Finance Assessment

Money received for work, as a gift, or through investments​ ​ ​ ​ ​

e

Income

Discretionary Expense

Intermittent Expense

Fixed Expense

Variable Expense

Expense that remains the same from month to month​ ​

d

Variable Expense

Discretionary Expense Nonessential

Income

Fixed Expense

Intermittent Expense

Expense for things you don't need.

e

Discretionary Expense

Income

Intermittent Expense

Variable Expense

Fixed Expense

List some of the reasons why Americans are in debt.​ ​ (a)   ​

• Save money
• Spend money they don't have
• Self-Control

Answer explanation

What is living paycheck to paycheck?​ (a)  

• Spending all of your money with no savings.
• Using credit cards
• Depositing money

Answer explanation

The problem with anyone's money is the person in the ​ ​ ​ ​ (a)  

• self-control
• emotional
• life
• mirror

It's hard to be disciplined and have ​ (a)   ​

• self-control
• mirror
• emotional
• life

Self-control is what type of maturity.​ (a)   ​

• emotional
• lift
• mirror
• self-control

Living on less than you make means not...​ (a)  

• Buying a car at 16 years old
• Going to college after high school
• Budgeting to eat out with friends
• Spending all of your money

The first component of a budget is​ (a)  

• income
• giving
• spending
• categories