non-sufficient funds (insufficient) |
What is the fee for an overdrawn account called? |
loan |
which term is NOT associated with balancing a checking account? |
– reconcile- deposit- withdrawal |
which terms ARE associated with balancing a checking account? |
if you have extra money left at the end of the month, your budget was successful |
Which of the following is NOT true of a zero-based budget? |
– The money you spend should equal the money you earn- Use envelopes for categories in which you tend to overspend-You spend every dollar on paper before the month begins |
Which of the following ARE true about a zero-based budget? |
3 months |
On average, how long will it take before your budget begins to work effectively? |
once a month |
How often should you balance your checking account? |
negative |
Many Americans have a _______ savings rate, meaning they spend more than they make. |
True |
True or False: Another name for a budget is a cash flow plan. |
Budget |
In order to effectively manage money, you need a: |
Food |
If you are struggling financially and are behind on your bills, what should you budget first? |
– Fear of what they may find- A budget has been used to abuse them- They never had a budget that really worked |
Which is a reason why people avoid making a budget? |
monthly cash flow form |
used to do a budget |
irregular income form |
used by persons earning an inconsistent monthly income |
reconcilation |
process used to determine if the balance in your checking registry matches the balance reported on the bank statement |
duplicate (carbon) checks |
helps people who forget to record checks in their register after writing them |
crisis |
Bounced checks are a sign of ______ living. |
month |
A written budget should be done every |
– fixed expenses- variable expenses- money to blow |
Your budget should include: |
lead to an increase in arguments |
Doing a budget does NOT |