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Personal Finance: Budgets and Taxes Test

personal-finance-budgets-and-taxes-test

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Financial Planning Steps

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What do your Financial Goals do?

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Taxes & Taxes Returns: Taxes?

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Cost of Paying Taxes

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Tax Forms

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What is a need?

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What is a want?

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Define Opportunity Cost.

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Decision Making Steps: Know the 6 Steps

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Purpose of a Budget? 3 aspects

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Steps to develop a Budget.

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Expenses: Name the types of expenses and be able to provide an example for each.

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Budget Analysis- What is the difference between the budget amounts and actual called?

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Budget Analysis cont. Be able to determine whether it is favorable or unfavorable (hint: budget- actual)

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Goal Setting: Know what SMART goal is?

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