Know the Basics
What is one reason people spend money every day?
To buy food, clothes, or school supplies
A plan for how to use your money
Budget
Why is it important to understand needs vs. wants?
So you don’t waste money on things you don’t need
A budget is only for adults with jobs.
False
What are examples of “needs”?
Food, clothes, school items
How good or well-made something is
Quality
How can comparing prices help you?
You save money and find better deals
Wants are more important than needs.
False
What should you do before buying something?
Ask: “Do I really need this?”
The money you receive regularly from parents or guardians
Allowance
Why should you not always trust sales?
Because cheap prices don’t always mean good quality
Comparing prices is a smart way to save money.
True
What are the three parts of a simple budget?
Saving, spending, sharing
A habit of buying many products
Consumerism
How does budgeting help you in the future?
It helps you manage money and avoid problems later
You should always buy something if it’s on sale.
False