Spending Plans
What is a budgeting app or online app?
Give an example of an employee benefit (be specific)
What is health insurance, dental insurance, life insurance, etc?
If you spend $2,500 on vacation but budgeted $2,000, how much over budget are you?
What is $500?
This is an example of a moving-in cost
What is rent for the first month, cleaning deposit, security deposit?
This is the first phase of buying a home
What is to determine home-ownership needs?
Name a benefit of having a detailed spending plan
What is to avoid overspending and reaching financial goals?
Give an example of what to do before you interview for a job
What is research the company, prepare questions to ask, prepare proper dress and grooming, or prepare to arrive early?
This is an example of a fixed expense
What is rent, car insurance, etc?
This type of insurance provides payment to others if a member of the insured household accidentally causes harm to other people or property
What is liability?
This is the most important factor when looking for a home
What is location?
True or false - everyone has the same spending plan
What is false?
Give an example of what to do during an interview
What is relax and be yourself, answer all questions completely and accurately, ask questions to help know the organization, or ask when you might hear back?
This is an example of a flexible expense
What is entertainment, food, shopping? Answers will vary.
This is the chance of loss from an event that cannot be entirely controlled
What is risk?
These are the next steps after you decided on a home you want to buy
What is to have the home evaluated and inspected?
This is the possibility that you'll lose your money such as taking a chance and buying a lottery ticket
What is risk?
Give an example of something to do following an interview
What is take notes to improve your next interview or to promptly send a thank you note?
This is an example of a long-term goal
What is retirement, to buy a home, to save for college? Answers will vary
This is the money paid to the insurance organization to purchase an insurance policy
What is a premium?
Name a benefit of owning a home
What is stability, permanence, flexibility, or tax breaks?
This is a result of not paying a bill on time and you have to pay a late fee
What is a consequence?
Give an example of a common deduction
What is Federal Income Tax, FICA, State Income Tax, or State Disability Insurance?
This is the purpose of a budget
You should spend no more than what percent of your net income on rent or mortgage
What is no more than 40%?
What is get pre-qualified for a mortgage?