Types of Expenses
Going to the movies is an example of what types of expenses
Discretionary and variable
What does a budget show you?
How much money you plan to come in and go out during the month
What is Net Income
The amount you get paid before taxes
Research shows that nearly half of Americans (46%) feel stress and anxiety about the amount of ______ they havek
Personal debt
What is the largest country in the world?
Asia
What is a discretionary expense?
An expense that is at your discretion (you do not have to have it/pay it)
How many categories should you have in your budget?
No limit, use as many as you need to keep your budget accurate
What is Commission
What is the difference between a fixed expense and a variable expense?
fixed expense is an expense that is the same amount every month. Variable fluctuates
What are the first five books of the bible?
Genesis, Exodus, Leviticus, Numbers, Deuteronomy
Why is tracking your expenses throughout the month important?
It gives you insight into whether you're sticking to the budget you set
Your money personality can affect your_____
What is the envelope system?
It's a method of budgeting that uses envelopes labeled with specific budget categories for your cash
Although the majority of Americans think budgeting is important, what percentage of Americans actually use a budget?
35%
Where were the 2020 Olympics (that were actually hosted in 2021
Tokyo
What is a way to stay accountable to reaching your financial goals?
Finding a person you trust to help keep you on track with your money goals.
The first priority in your budget should be_______
Giving
What is an irregular income
An income that does not give you a fixed amount of money each month
What makes a budget a zero-based budget?
When my income minus my expenses equals zero
How many colors will you find in a regular bag of M&M's
six
What should you do if you overspend in one category of your budget?
Adjust your budget by removing money from other spending categories
What is a good way to make sure you're creating a budget that's realistic?
Check your calendar so you can plan for upcoming monthly expenses
What are the four walls (4 things you have to have in your budget?
Transportation, food, shelter, and utilities
What are some key components of successful budgeting (what do you need to make a budget work?
Create the budget, track spending, find a good system, adjusting as you go, sticking to the budget
What is the rarest blood type
AB-