Income Sources
What does SSI stand for?
Supplemental Security Income
Is food a need or a want?
Need
What is usually the biggest monthly expense for most people?
Rent/Housing
True or False: Saving $5 a week adds up to $260 in one year.
True
Your monthly bus pass got lost. How much do you need to replace it: $5, $35, or $77, $80?
$80 (don't forget tax!)
What’s the cheapest meal you can make for under $5?
Ramen / PB&J / Pasta — accept any cheap answer...
True or False: TDAP gives you more money than SSI.
False – it’s much less
Is Netflix a need or a want?
Want
About how much is a monthly bus pass in Baltimore: $23, $77, or $200?
$77
Weekly: $22;
Senior/disability: $23/mo.
What’s an emergency fund used for?
Unexpected expenses — car repairs, medical bills, etc.
True or False: Unexpected expenses only happen once in a while.
False — they can happen anytime.
If you spend all your money on snacks, what’s left in your wallet?
Crumbs 😂
If you work part-time and earn $600 and also get $943 from SSI, what is your total monthly income
$1,543
True or False: Clothing can be both a need and a want.
True — basic clothing = need
fashion = want
If your phone bill is $60 and you pay it for 12 months, how much do you spend in a year?
$720
If you save $20 a month, how much will you have in 6 months?
$120
You budgeted perfectly, but then your electric bill is $30 more than expected. What do you do?
Possible answers: cut back somewhere, use savings, pay late, call and ask for grace period/extension, etc..
You earn $1,200 from a job and get $200 in SNAP benefits. How much total support do you have for the month?
$1,400
What type of income comes from working a job?
Wages/earned income
Which is the want?
A) Paying rent
B) Eating out at a restaurant.
Eating out
Name two monthly bills that never go away.
Rent, utilities, food, phone, etc.
Name one benefit of having savings.
Security, less stress, can cover emergencies, etc.
A friend asks to borrow $40, but you only have $50 left for groceries. What should you do?
Prioritize your needs — groceries — and say no or explain honestly.
What did the broke person say to their bank account?
Stop acting so negative.
Name one difference between SSI and SSDI.
SSI is need-based and based on limited income and resources; does not require work history to qualify.
SSDI requires work history where you paid Social Security taxes to earn work credits; based on past earnings.
You only have $50 left. Do you buy groceries or new sneakers?
Groceries — sneakers would be a want.
Your rent is $700 and utilities are $100. What percent of a $1,200 income goes to housing + utilities?
67%
If you start with $0 and save $50 each month, how long will it take to reach $600?
12 months / 1 year
Your car breaks down and costs $400 to fix, but you only have $200 saved. Name one smart option.
Payment plan, borrow from family, cut other expenses, etc.
Why don’t budgets like surprises?
Because they can’t handle unexpected expenses!
How much does SSI pay out vs TDAP?
Maximum SSI payment (2025): $967 for an eligible individual and $1,450 for an eligible couple.
TDAP: Generally up to $185 per month.
You have $50 left in your budget. You need $40 for groceries and want $20 for eating out. What do you do?
Buy groceries first; can’t afford both — demonstrates prioritizing needs over wants.
Your rent is $800, your phone is $60, and food costs $200. If your income is $1,200, how much do you have left?
$140
If you save $10 each week, how much will you have in 3 months?
About $120 — 12 weeks × $10
You have $100 left for the month. Your medicine costs $40 and your light bill is $75. What choice could you make?
Pay medicine first, then talk to utility company for payment plan, ask for assistance, or cut somewhere else — tests problem-solving skills.
Why did the man put his money in the blender?
Because he wanted liquid assets.