Lesson 1
A plan for how you spend your money
What is a Budget?
Any money you earn or receive as a gift
What is income?
Live on ___ than you make
What is Less?
Income that comes in at different amounts or at different times, or both.
What is Irregular Income?
If you're ____, there should be no such thing as my money or your money. It's our money
What is Married?
The percentage of Americans who budget
What is 35%
The first priority in a budget; where you decide how you'll be generous with your money
What is Giving?
Over half of teens and young adults associate money with
What is stress and worry?
Earnings based on a percentage of the sales made.
What is Commission?
The average family spends over ____ per year on clothing.
What is $1,800?
Money flows these two ways
What is In and Out? (Not the restaurant)
An expense that comes only a few times a year (Usually a lot of money is paid)
What is an Intermittent Expense?
A record that summarizes all of the income and outgo over a certain time period
What is a Cash-Flow Statement?
What is 65%
This will help you reach your money goals, help you talk about money with others, and lead you to become outrageously generous.
What is Budgeting?
Personal Finance is 20% head knowledge and 80 percent what?
What is behavior?
The percentage of your income you set aside to be generous and give to others
What is 10%
The average household spends ___ on groceries and ___ on dining out each month
What are $370 and $290
The ___ foundation is save a $500 emergency fund
What is the First Foundation?
What is 94%
What percent of Personal Finance course takers create a budget?
Types of expenses that are considered "wants" and not needed
What is a Discretionary Expense?
The percentage of millionaires that stick to their budget.
What is 93%
The first step on how to budget with an Irregular Income
What is Writing it Down?
Discussing personal finances with your partner is important (T or F)
What is True?