Overview of a Budget

Net worth is the amount you have, plus the amount you owe. True False

False

Budget

A plan for how you will spend and save your money

Variable Expenses

Costs that change in amount

Fixed Expenses

Costs that remain the same amount

In two to three sentences, describe how you would organize your financial information.

There are five parts to a organize your financial information. They are: net worth statement, financial goals, budget, saving and investing plan, and insurance plan. Another way to organize your financial information are bills, receipts, and account statements.

A saving and investing plan is part of a good financial plan. True False

True

A variable expense is a _____. cost that stays the same from month to month cost for completing a budget cost listed in a budget cost that changes

cost that changes

Choose all that apply. Select all the parts of a financial plan. net worth statement savings account financial goals savings and investing plan insurance plan checkbook register budget

net worth statement financial goals savings and investing plan insurance plan budget

A budget is a _____. net worth statement plan for saving and spending your money table that lists your goals for saving and investing list of what you spent last month

plan for saving and spending your money