Money Basics
What is the smallest unit of U.S. currency?
What is a penny.
If you buy a snack every day with your lunch money, are you spending or saving?
What is spending?
What do you call the money someone makes from doing a job?
What is income?
Is food a need or a want?
What is a need?
What is it called when you look at prices from different stores before buying something?
What is comparison shopping?
What is a budget?
What is a plan for how to spend and save money?
Why is it important to save money?
What is to be prepared for emergencies or future needs?
Name one way a middle school student might earn money.
What is babysitting, mowing lawns, tutoring, or doing chores?
You already have sneakers, but you want a new pair because they’re trendy. Is this a need or a want?
What is a want?
If an item is “on sale,” what does that usually mean?
What is it cost less than the regular price?
What does the term "income" mean?
What is the money you earn or receive?
If you get $20 for your birthday and choose to put $10 in a piggy bank and use $10 at the store, what are you doing?
What is saving and spending?
What is a paycheck?
What is the money you receive from your job, usually every week or month?
Name two examples of basic needs.
What are food and shelter? (Other valid answers: water, clothing, medicine)
You have $30 and want to buy a backpack. One costs $28 and another costs $25 but has better reviews. Which is the smarter buy, and why?
What is the $25 one because it saves money and is higher quality?
If you earn $10 a week and want to buy something that costs $50, how many weeks do you need to save (without spending any)?
What is 5 weeks?
What’s one smart reason to delay spending money on something you want?
What is to save up for a better or more important item later?
What do you call money you earn based on how many hours you work?
What is a hourly wage?
Why is it important to take care of your needs before your wants when making a budget?
What is because needs are essential for living, and wants are extra?
What is a coupon and how does it help you shop smart?
What is a discount or deal that saves money on purchases?
What is the difference between gross income and net income?
What is gross income is what you earn before taxes, and net income is what you take home after taxes?
What is the term for setting aside a certain amount of money each month before you spend any?
What is “paying yourself first”?
What’s the difference between a salary and a wage?
What is a salary is a fixed yearly amount paid regularly, while a wage is based on hours worked?
A family has $100. They need groceries and also want to go to a movie. What should they spend money on first, and why?
What is groceries, because food is a need and movies are a want?
Why should you avoid buying something just because it’s trending or popular?
What is because it might not be useful or worth the money in the long run?