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Personal Finance 101
Spending Money
Writing a Budget
Banking 101
Expenses
100
For a student, this is $500 put aside for large, unexpected expenses. For an adult, this is 3-6 months of his/her income.
What is an Emergency Fund?
100
True or False: If you use an Automatic Teller Machine that is NOT owned by your banking institution, you may be charged an ATM fee.
What is true?
100
A written cash flow plan.
What is a Budget?
100

The person or business that a check is written to.

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What is the payee?

100

Expenses that stay the same month after month.

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What are Fixed Expenses?

200

A good reason to go into Debt.

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What is NONE!

200
An item that is bought without previous planning or consideration of long term effects.
What is an Impulse Purchase?
200
True or False: Budgeting with an Irregular Income is no different than budgeting with a regular income.
What is False?
200

When you want to deposit money into your account, you fill out one of these.

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What is a deposit slip?

200
To match your bank statement with your checkbook is this.
What is Reconcile?
300
The Number One cause for divorce in America.
What is Money?
300
This occurs when money is withdrawn from a bank account and the available balance goes below zero.
What is Overdraft?
300

A cash flow plan that assigns an expense to every dollar of your income, wherein the total income minus the total expenses equals zero.

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What is a Zero-Based Budget?

300
Every time you make a transaction on your checking account you should write it down in this.
What is a check register?
300
Expenses that are not the same every month.
What are variable expenses?
400
True or False: A typical millionaire would spend less money than he/she makes.
What is True?
400
This is a copy of each check you write.
What is a Carbon Check?
400
A summary that shows total income and spending for a given time period.
What is Cash Flow Statement?
400
You deposit two checks for $21.50 and 34.50 and indicate you want $10.00 Cash Back. Your Total Deposit would be this.
What is $46.00?
400
Expenses that don't occur every month but come up periodically. When they do occur, they are usually a large sum of money, like college tuition.
What are Intermittent Expenses?
500
Emergency Fund , Get out of Debt , Pay Cash for a car , Pay Cash for college , Build Wealth and Give
What are the Five Foundations of Personal Finance?
500
This is a series of envelopes that are divided into categories and are used to store cash for planned monthly expenses.
What is an Envelope System?
500
True or False: Cash Flow Plans work BEST when they are very complicated and detailed.
What is False?
500
The checking account record that SHOULD have the most current balance.
What is your own checking account register?
500
Expenses that are not essential. Examples are Eating Out money or Concert money.
What are Discretionary Expenses