Personal Budget

Which of the following is a benefit of using a budget?

• It eliminates the need to save money

• It increases your expenses

• It helps you organize your finances and achieve your goals

• It reduces your income

What is a good strategy for managing irregular income?

• Spend less during months with lower income

• Use credit cards to cover shortfalls

• Create a budget based on average income

• Avoid saving until income stabilizes

These are costs for items that a person could do without

• Fixed expenses

• Variable expenses

• Discretionary expenses

• Sub-prime expenses

These are costs for an item or service that can be changed

• Fixed Expenses

• Variable Expenses

• Discretionary Expenses

• All expenses

This is an amount beyond what is required, excess;
(adj.) more than what is needed or expected

• Surplus

• Deficit

• Budget

• Interest

A plan for how much a person will spend and what they will buy for a certain period of time

• income

• invest

• budget

• expenses

Having the knowledge and skills to make responsible decisions about how to earn, spend, and save money.

• invest

• money management

• budget

• universal need

Which of the following is a synonym for 'budget'?

• A) Plan

• B) Expense

• C) Income

• D) Debt

Identify the correct sentence:

• A) She budgeted her expenses carefully, so she could save more.

• B) She budget her expenses carefully, so she could save more.

• C) She budgets her expenses careful, so she could save more.

• D) She budgeting her expenses carefully, so she could save more.

What is the antonym of 'surplus'?

• A) Excess

• B) Deficit

• C) Abundance

• D) Plenty