Definitions
Define a want without using the word want
An expense that you desire OR
an expense that is a luxury OR
an expense that is not essential
Calculate the yearly amount $892.50 into weekly (rounded to 2 decimal places)
$17.16 per week
What is the symbol for starting an equation in sheets?
=
Why have a KiwiSaver account?
To have money for your retirement
Which expense should you decrease in a deficit - groceries or entertainment?
entertainment
Define variable expense with an example.
An expense that changes or does not remain fixed, for example, groceries, power
Calculate $456 monthly into weekly amount (rounded to 2 decimal places)
$105.23 per week
What is a coordinate (cell), and give an example.
D4 etc must have the letter first, number second
Why have savings, and give an example
To meet a financial goal, for example a trip, a house etc
How often should you monitor a weekly budget?
A weekly budget should be monitored weekly to keep your spending in check for the following week.
Define contingency fund without using the word emergency.
Money set aside for an unexpected expense, for example, a new set of tyres
Calculate $983.90 fortnightly into weekly (to 2 decimal places)
$491.95 weekly
What is the word to add up a list of numbers?
SUM
Why have a budget surplus?
To make sure you cover your expenses
Why is using Sheets useful for doing budgets?
The formula in the budget will accurately add up amounts for you - it is less likely to make a mistake
Define a deficit.
More expenses than income
Calculate $2234.11 quarterly into a weekly amount (rounded to 2 decimal)
$171.85 weekly
What is the symbol for multiplication in sheets?
*
Why have house and contents insurance?
To pay for any damage to your house or contents in a storm, earthquake etc
What is the difference between profit and surplus?
Profit is a term for business income statement
Surplus is the term for a personal budget
Define a balanced budget.
Neither a surplus nor a deficit OR
a $0 budget balance
33% personal tax rate on $124,000
$40,920
What is the name or description of the tool that copies a formula across?
fill handle or little circle on the cell that you drag across
Why do financial advisors say buying a car is bad debt?
Because the car will lose value rapidly over time OR
the car will depreciate
List three ways you could increase your income without leaving your job.
Work more hours
Get a second job
Get a boarder
A garage sale is short-term