Money Basics
How many cents are in one dollar?
100 cents
Is food a need or a want?
Need?
What is a budget?
A plan for your money
Where can you safely keep your money?
A bank or credit union
What should you check before buying something?
The price and your budget
Goods and services
Is a video game a need or a want?
Want
True or False: Bills should be included in a budget.
True
What is a savings account used for?
Saving money for later
What does it mean to compare prices?
Look at prices from different stores or sellers.
What is income?
Money that you receive or earn
Which should usually come first when making a budget: needs or wants?
Needs
You earn $100 and spend $60. How much money is left?
$40
What does a debit card use to pay for purchases?
Money from your bank account
A shirt costs $25 at Store A and $18 at Store B. Which price is lower?
$18
You have $20 and spend $7. How much money do you have left?
$13
You have $30. You need $20 for groceries and want a $20 video game. What should you buy first?
Groceries
You have $50 for the week. You spend $15 on food, $10 on transportation, and $5 on entertainment. How much is left?
$20
Should you share your PIN with your friends?
No
Why can comparing prices help you?
It can help you save money.
You receive $50. You spend $15 on food and $10 on entertainment. How much money is left?
$25
Name two needs and two wants.
varies
You want to buy something that costs $80, but your budget only allows you to spend $50. Name two choices you could make.
Save more money, wait to buy it, find a cheaper option, or adjust spending.
You check your bank account and notice a purchase you did not make. What should you do?
Tell a trusted adult and contact the bank/financial institution.
You have $40. You want shoes that cost $55. What are two smart choices you could make?
Save more money, find cheaper shoes, wait for a sale, or choose another pair you can afford.