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  • What are expenses?
    Things you spend your money on
  • Fixed expenses occur....
    Every Month
  • What type of expense is the Grocery Bill
    Flexible Expense
  • Which account allows you to pay for items using checks?
    Checking Account
  • Discretionary Expenses occur...
    Randomly
  • What type of expense is a Car Loan
    Fixed Expense
  • What type of account accrues a balance each month, that you are required to pay or will be charged with a fee
    Credit Card
  • The amount allotted to a fixed expenses _________
    Stay the same
  • What does it mean when something has value?
    It has worth, desirability or usefulness.
  • When can interest be a positive/rewarding thing for you the consumer?
    Savings or Investment Accounts
  • What are two examples of utliities?
    Answers will vary
  • What are the two components that make up a budget?
    Income & Expenses
  • What type of expense is an order at Taco Bell?
    Discretionary Expense
  • Flexible expenses occur...
    Every Month
  • What type of expense is Car Insurance
    Fixed Expense
  • Name two examples of currency
    Answers will vary
  • When can interest be a negative thing for you the consumer?
    Credit Cards and/or Loans
  • True or False- Earnings and income mean the same thing
    True
  • What type of expense is a Mortgage Payment/Rent
    Fixed Expense
  • What is an example of income?
    Answers will vary
  • What type of expense is a PS5?
    Discretionary Expense
  • What type of expense is a new scooter?
    Discretionary Expense
  • What type of account allows you to purchase big ticket items by borrowing money from a lender for a fee?
    Loans
  • The amount spent on a flexible expense _______
    Changes
  • What is a budget?
    A plan to spend and save money
  • What type of expense is the Electric Bill
    Flexible Expense
  • What is a discretionary expense?
    An expense that occurs only when you have money left over after your fixed and flexible expenses have been paid.
  • What is income?
    Money you have coming in
  • What type of expense is the Water Bill
    Flexible Expense
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