Key Terms
Your _______ is money that you put aside for the future or for emergencies
How many buckets does this rule divide your money into?
Your budget should look the same as your friends budget
What is false
Rent is a __________( WANT or NEED)
What is need
______ are the things that we have to pay for
What are Expenses
The 50/30/20 month is a type of _____
What is budget
A want is something that we can live without
What is true
Dining out is __________ (want or need)
What is a want?
_________ health is about your relationship to money.
What is financial?
30% of your money should go to ____
What is wants?
As of Oct 1 2023, minimum wage in Nova Scotia will be $15.75 hour
What is false
Your anti-depressants/ medication are a ______ (Want or need)
What is need?
An ________ is something you buy in the moment, that you did not think about in advance.
What is an impulse purchase?
50 of your income should go to ___ in 50/20/20 budgeting
your needs/ essentials
Budgeting can reduce stress
Electricity/power is a _______ (want or need)
A need
________ expense is something that is we have to pay for, and it is the same amount every month (ie rent)
What is fixed (or fixed expense)
____% of your money per month should go to savings
What is 20%
Budgeting allows you to plan for short term AND long term expenses
What is true?
A $800 t-shirt is a _________ (WANT OR NEED)
What is a want?