Personal Finance - 1. Overview of a Budget

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

Parts of a financial plan include net worth statements, financial goals, a budget, saving and investing plan, and an insurance plan. It is important to keep receipts and other forms of statements like bills.

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

False

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

True

budget

a plan for how you will spend and save your money

A variable expense is a _____.

cost that changes

variable expenses

costs that change in amount

fixed expenses

costs that remain the same amount

A budget is a _____.

plan for saving and spending your money

Select all the parts of a financial plan.

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