Budgeting Basics
What is the main purpose of a budget?
To plan how you will spend and save your money.
What is gross pay?
Pay before taxes and deductions.
Which strategy divides money into needs, wants, and savings?
50/30/20 Budget.
Name one utility you must budget for.
Electricity, water, gas, internet.
“Can’t Help Falling in Love” was made famous by this singer.
Elvis
What are “needs”?
Things required to live and work (food, housing, transportation).
What is net pay?
Take-home pay after deductions.
Which strategy tracks every dollar?
Zero-Based Budget.
Name one factor to consider when choosing where to live.
Cost of living, transportation, safety, job location.
This movie follows Lara Jean and her secret love letters.
To All the Boys I've Loved Before
What are “wants”?
Things that are nice to have but not necessary.
Which expense usually stays the same each month: rent or groceries?
Rent (fixed expense).
Which strategy uses cash in envelopes?
Cash Envelope Budget.
What is an emergency fund?
Money saved for unexpected expenses.
“Perfect” is a popular love song by this artist.
Ed Sheeran
What is a budget deficit?
When you spend more than you earn.
Give one example of a variable expense.
Gas, groceries, entertainment, dining out.
Which strategy saves first before spending?
Pay Yourself First.
Name one way to save money grocery shopping.
Compare prices, use coupons, buy generic.
This movie features Noah and Allie’s famous love story and rain scene.
The Notebook
What is a budget surplus?
When you spend less than you earn.
Which is usually the biggest household expense in the U.S.?
Housing.
Why are budgeting apps helpful?
They track spending and connect to bank accounts.
Why is tracking spending important for long-term financial success?
It helps avoid debt, build savings, and reach financial goals.
What is a corsage?
A small flower arrangement worn by someone going to prom (usually on the wrist or dress).