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