Housing and bills
What is the monthly payment for living in a house or apartment called?
Rent or mortgage
What is a car payment?
Money paid each month towards buying a car
What is the name for the money spent on food at home?
Groceries
Name one example of an entertainment expense
What is a budget?
A plan for how to spend and save money.
What does a hydro bill pay for?
Electricity
What does car insurance help protect you from?
Costs from certain accidents or damages involving your car.
Which usually costs less: cooking at home or ordering restaurant food?
Cooking at home
What is an extracurricular activity?
An activity outside of schoolwork, like sports or music lessons.
What does saving money mean?
Keeping money instead of spending it.
What is property tax money used to help pay for?
Community services like roads, parks and schools
Name one other way people can get around without owning a car.
Bus, Subway, Bicycle, or walking
Give one example of a personal hygiene expense?
Clothing, Shampoo and bodywash, Toothpaste and Toothbrush
Give one example of a childcare expense.
Daycare or babysitting.
What is an investment?
Money put toward something with the goal of earning more money in the future.
What is house insurance for?
Protecting a home from certain damages or losses
Why is it important to include transportation costs in a budget?
Because travelling cost money, including gas, insurance and repairs.
Why should families plan how much to spend on groceries?
To avoid spending too much and staying within budget.
Why should families include entertainment in thier budget?
What is the difference between an expense and income?
Income is money earned ,while expenses are money spent.
Name two utilities that a household might pay for every month?
Electricity, Water, Natural Gas
What is maintenance on a car?
Taking care of the car through repairs and regular checkups.
What could happen if a family spends more money on food then planned
They might have less money for other expenses and savings
If families wants to save money, name one entertainment expense they could reduce?
Going to the movies or earing at restaraunts
Why should families keep some money for emergencies?
To pay for unexpected costs,like car repairs or a broken appliance