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17 questions
You mow neighbor’s lawn
Income
Expense
You get allowance
Income
Expense
You go to the movies
Income
Expense
You get a present for friend’s birthday
Income
Expense
Savings is...
Money you have spent.
Your allowance.
All the money you have saved.
Using coupons.
Mia wants a new phone, but she needs a new notebook for class. What should she do?
Buy the notebook and put away money for the phone.
Buy the phone and put away money for the notebook.
Buy the notebook and tell Moby to buy her the phone.
Buy the phone and use Moby's notebook for a while.
What is a budget?
a group that helps the community
a safe place where people keep money
a center where you can donate things
a plan for spending and saving money
Which is good advice for saving and spending money?
Spend all of your allowance as soon as you earn it.
Use a budget to plan how much money you can save.
Try to buy things that you want before the things that you need.
Buy things you use only once, and then throw them out.
A store sells you a new book for $8.00. A used bookstore sells it for $5.00. How much would you save if you bought the used book?
$8.00
$6.00
$4.00
$3.00
The goal of a budget is to SAVE more than you SPEND.
True
False
People keep a personal budget to help them
set and reach financial goals.
earn promotions at work.
buy with credit.
buy anything they want.
Which of the following people would benefit MOST from a personal budget?
Tim carefully keeps track of his expenses.
Sue spends less than she earns.
David is saving for a major purchase.
Bob does not have enough money to pay bills.
For which item would someone MOST LIKELY need to save money in order to
purchase?
a new shirt
a new washing machine
a hair dryer
a video game
What is NOT a reason that people usually save money?
to buy special things for the future
to have money for emergencies
to make a payment on an expensive item
to buy basic necessities
Which item would most likely require savings?
soccer ball
a new refrigerator
a movie ticket
a box of cookies
I had to give up going out to dinner in order to buy a new shirt. This is an example of
opportunity cost
price incentive
specialization
poor planning
A budget is a list of
income and expenditures
things to buy
how much to save
needs and wants
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