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4. Money you receive for working at a job is an example of
A. income.
B. an expense.
C. discretionary income.
D. a fi nancial goal.
5. The phrase “pay yourself fi rst” means that you should
A. set aside money for all your wants in your budget.
B. write yourself a check for spending money every week.
C. set aside money to save as part of your budget.
D. None of the above.
Build
Your Vocabulary
For each word or term, write the correct defi nition using your own words.
6. Budget
7. Fixed expenses
8. Variable expenses
9. Income
10. Discretionary i ncome