Financial Vocabulary Worksheet

What is the term for 'things we would like to have but not necessary for survival'?

• wants

• needs

• necessities

• essentials

What is the term for 'things required for survival including food, water, and shelter'?

• needs

• wants

• luxuries

• desires

What is the term for 'costs that stay the same every month like mortgage or rent'?

• fixed expenses

• variable expenses

• discretionary expenses

• occasional expenses

What is the term for 'costs that change from one month to the next like a water bill'?

• variable expenses

• fixed expenses

• sunk costs

• capital expenses

What is the term for 'a plan for spending money based on income'?

• budget

• receipt

• invoice

• loan

What is the term for 'spending more money than comes in as income'?

• debt

• savings

• investment

• profit

What is the term for 'contract that allows you to use a car for a specified period of time for a monthly payment'?

• lease

• loan

• mortgage

• subscription

What is the term for 'money spent on wants in a budget'?

• discretionary spending

• fixed expenses

• mandatory spending

• savings

What is the term for 'the owner of a property who rents it out to another person for a monthly sum of money'?

• landlord

• tenant

• broker

• caretaker

What is the term for 'person who pays monthly sum of money to a property owner for the use of their home or apartment'?

• tenant

• landlord

• owner

• agent