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- 1. Multiple Choice
Money that you earn.
Asset
Expense
Income
- 2. Multiple Choice
What is an expense?
Money that you spend or give away.
Money that you earn.
Money that you put away for later.
- 3. Multiple Choice
Money that you put away or in a bank for the future.
Expense
Savings
Income
- 4. Multiple Choice
What is overspending?
Using money you get to spend.
Using more money than you have available.
Using money you have in the bank.
- 5. Multiple Choice
A plan for spending and saving.
Budget
Savings
Income
- 6. Multiple Choice
An expense that does not change from month to month.
Variable expense
Fixed expense
Unexpected expense
- 7. Multiple Choice
What is a variable expense?
An expense that changes every month.
An expense that is unexpected.
An expense that is the same month to month.
- 8. Multiple Choice
Something thought to be an essential item required for life (food, water etc.).
Need
Want
Desire
- 9. Multiple Choice
Something unnecessary but you desire.
Need
Want
Expect
- 10. Multiple Choice
What are goals called that take more than a year to accomplish?
Short-term goals
Long-term goals
Expenses
- 11. Multiple Choice
What are goals called that take less than a year to accomplish?
Short-term goals
Long-term goals
Expenses
- 12. Multiple Choice
Money earned after taxes and other deductions.
Net income
Gross income
Monthly income
- 13. Multiple Choice
What is unplanned, compulsive spending called?
Impulse buying
Planned buying
Budgeted buying
- 14. Multiple Choice
What is the rule that says you should always set aside a portion of your income to save?
Pay yourself first.
Pay your bills first.
Spend what you want first.
- 15. Multiple Choice
What is a record of income and expenses and a plan for managing your money called?
Budget
Income
Equity
- 16. Multiple Choice
What is money that is earned through wages, salary, tips, and interest from savings called?
Income
Expenses
Savings
- 17. Multiple Choice
What do families spend most of their money on?
Transportation
Housing
Food
- 18. Multiple Choice
What is it called when you don't have enough money?
Shortage
Overage
Balance
- 19. Multiple Choice
What is it called when you have money left over at the end of the month after expenses?
Shortage
Surplus
Balance
- 20. Multiple Choice
Which of the following is a type of expense?
Fixed
Variable
Periodic
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