Monthly Expenses
What do you call the money you spend on things like food, clothes, or games?
Expenses
What is the first step you should take when creating a budget?
Setting a Financial Goal
What is the money you receive from allowance, chores, or a job called?
Income
What are expenses that stay the same every month, like rent or a phone bill?
Fixed Expenses
**DAILY DOUBLE**
Saving up for a new phone is an example of what kind of financial goal?
Short-Term Goal
What is one example of a regular source of income?
Paycheck, Salary
What are expenses that change from month to month, like entertainment or snacks?
Variable Expenses
*HEAD TO HEAD*
Saving money to go to college is an example of what kind of financial goal?
Long-Term Goal
What percentage of your income should be allotted to your savings or emergency fund?
10%
What is one example of a fixed expense?
Rent, Car Payments, Phone Bill
What is the name of the money you set aside to help you with surprise costs or emergencies?
Emergency Fund
It's a good idea to spend more than you earn each month: true or false?
False
**SUDDEN DEATH**
What is one example of a variable expense?
Entertainment, Groceries, Dining Out
What tool helps you list your income and track your monthly spending?
Budget Spreadsheet
**SUDDEN DEATH**
What should you avoid using unless absolutely necessary?
Credit or Loans