1. Budgets: Help or Hindrance

2. Budget Definition: spending plan

4. Expense Definition: cost

5. Tax Definition: imposed charge for government services

6. Which two cities are located the mints that produce coins for the United States?

7. Answer: Philadelphia and Denver

8. Gross Pay Definition: amount of income before taxes

9. Net Pay Definition: amount of actual take home pay

10. Annual Definition: yearly (12 months)

11. Monthly Pay Definition: paid one time each month (12 pays per year)

12. Weekly Pay Definition: to be paid every week (52 weeks in one year)

13. Who is on the $10 bill?

14. Answer Alexander Hamilton

15. Biweekly Definition: you will be paid every other week (26 times per year)

16. Liabilities Definition: money owed

17. Net Worth Definition: total of your financial worth

18. Assets Definition: what a person owns that is of financial value

19. Utilities Definition: refers to water, electric, gas, oil, phone, or other regulated businesses

20. What is the largest denomination dollar bill in circulation today?

21. Answer $100,000.00 bill

22. Insurance Definition: paid policy to protect against loss

23. Savings Definition: money set aside to use in case of unexpected needs

24. Fixed Cost Definition: cost that remains the same

25. Flexible Cost Definition: cost that changes from month to month

26. Debt Definition: something owed, to owe money

27. Name one of the women that have been placed on money printed for the United States.

28. Answer: Susan B. Anthony, Sacajawea Martha Washington and 4. Pocahontas

29. Rent Definition: money paid for the use of another's property

30. Payment Definition: money paid for the exchange of a goods or service

31. Housing Allowance Definition: money set aside for housing expenses

32. Income Definition: money that flows into your account

33. Fixed Income Definition: same amount of money that comes to you on a regular basis

34. What is the statement on the back of all money?

35. Answer: In God we trust

36. Variable Income Definition: money that comes to you at irregularly scheduled time period

37. Budgeting Tips Wants vs. needs Be careful when spending money on wants Pay savings first After wants comes savings Keep track of your expenses Rule of percentage 70% bills, 20% savings, 10% invest

38. Budget Answer the questions using the budget

39. Budget Answer the questions asked by using the budget below