Build a Budget
What do we call the plan that shows how you will spend and save your money?
A. Budget
B. Expenses
C. Pros and Cons
A. Budget
Food, shelter, and clothing are examples of what?
A. Wants
B. Needs
A. needs
Money you set aside for later is called what?
A. Expenses
B. Savings
C. Checking
B. Savings
Using money to try to grow more money is called what?
A. Saving
B. Spending
C. Investing
You want a new phone but don’t have the cash. What should you do first?
A. Steal it
B. Save money
C. take out a loan
B. Save
If you earn $500 a month and spend $450, how much do you have left?
$50
Streaming services and video games are usually considered what?
A. Needs
B. Wants
B. wants
A savings account is usually used for what purpose?
A. To keep money safe
B. To spend
C. To forget about
A. Keep money safe
Stocks represent ownership in what?
A. Companies
B. People
C. Games
A. Companies
If two loans offer the same amount, which should you choose?
A. Find the lowest interest
B. Just choose one
C. Find the highest interest
A. Find lowest interest rate
Rent, Car payment, and Cable Bill usually fall into what type of expense?
A. Fixed
B. Variable
A. Fixed
Buying name-brand shoes instead of cheaper ones is an example of choosing a ___ over a need.
Want
Saving a little money regularly is easier than saving ___ at once.
a lot or a bunch
Investing usually involves what: risk, reward, or both?
Both
Buying something without planning can hurt what?
A. Your feelings
B. Your budget
C. Your savings
D. B and C
D. B and C
Money set aside for emergencies is called what?
A. Emergency Fund
B. Fun Money
C. Savings
Emergency Fund
True or False: Wants are more important than needs in a budget.
False
What kind of savings is meant only for emergencies?
A. Emergency fund
B. Savings
C. Important
Emergency Fund
True or False: Investing guarantees profit.
False
Paying bills on time helps improve what?
A. Muscle
B. Credit
C. Self-esteem
B. Credit
If expenses are greater than income, your budget is good.
A. True
B. False
A. True
Cutting back on wants helps you do what with money?
Why is saving important?
To have money when you need it
Why do people invest money long-term?
A. for fun
B. to build money over time
C. nobody knows
B. To build money over time
Why is budgeting important?