Lesson 101: An Annual Budget
The money left over after all expenses are subtracted from income is known as savings.
True
College tuition is usually considered a long-term financial goal because it
requires a lot of time and planning to reach.
If each monthly issue of Ballet Today costs Marie $2.50, then she spends____________ annually for her subscription.
$30.00
If instead of buying six pairs of ballet shoes a year (at $15 a pair), Marie only buys four pairs, then she saves __________ a year.
$30.00
Which column in an annual budget indicates the money you really spent during the year?
Actual spending
A(n) ____________________is an example of an anticipated expense.
cell phone bill
You can calculate discretionary income by subtracting
essential expenses from income.
Buying a ____________________ is an example of a long-term financial goal.
house
A winning lottery ticket or a scholarship is an example of
unanticipated income.
Short-term financial goals can be reached within
weeks or months.