BUDGETING
This is a plan for how you will spend your money.
What is a budget?
Money you keep for future use.
What are savings?
You should do this before buying an expensive item to find the best price.
What is compare prices?
A person who gives advice about money.
Who is a financial consultant?
A car, house, or computer are examples of this.
What are big purchases?
A budget helps you track your income and ________.
What are expenses?
If you save money every month, you are preparing for a future ________.
What is a purchase?
Reading reviews online is part of this process.
What is research?
To completely remove something.
What does eliminate mean?
This helps you pay for something over time.
What is a payment plan?
If you spend less money on restaurants, you are making this.
What is a cutback?
True or False: Saving money can help you avoid debt.
What is True?
Buying something immediately without planning is called this.
What is impulse buying?
To expect something in the future.
What does anticipate mean?
Before making a large purchase, you should compare prices and do this.
What is research?
Before making a big purchase, you should create one of these.
What is a budget?
You want a $1,200 laptop. You save $100 each month. How many months will it take?
What is 12 months?
Name two places where you can compare prices.
Examples:
When prices go up and down, they do this.
What is fluctuate?
If you have enough money to buy something, you can ______ it.
What is afford?
Name two things that should be included in a budget.
Income and expenses.
Name one advantage of saving before buying something expensive.
Possible answers:
Why should you research a product before buying it?
To make an informed decision and find the best value.
Changes made to improve a budget are called these.
What are adjustments?
Name three smart strategies for making a big purchase.
Possible answers: