Vocabulary
What is an expense?
a. Money you earn
b. Something you spend money on
b. Something you spend money on
Is rent a fixed or variable expense?
a. Fixed
b. Variable
b. Fixed because rent doesn't change
Is food a need or a want?
a. Need
b. Want
a. Need because you need it to survive
What is money?
a. Helps you buy things
b. A want
a. Helps you buy things
If you save $3 each week for 2 weeks. How much will you have?
a. $4.00
b. $6.00
Remember: You are multiplying
b. $6.00
$3 x 2 = $6.00
What is a fixed expense?
a. Expense that doesn't change
b. Expense that changes
a. Expense that doesn't change
Are groceries a fixed or variable expense?
a. Fixed
b. Variable
b. Variable because groceries change
Is the latest iPhone a need or a want?
a. Need
b. Want
b. Want, you can get another phone that is not the latest one.
What are savings?
a. Using money now
b. Keeping money safe to use later
b. Keeping money safe to use later
If you save $2.00 each week for 5 weeks. How much will you have?
a. $10.00
b. $5.00
Remember: You are multiplying
a. $10.00
$2 x 5 = $10.00
What is a variable expense?
a. Expense that doesn't change
b. Expense that changes
b. Expense that changes
Is eating out a fixed or variable expense?
a. Fixed
b. Variable
b. Variable because it changes
Is the Nintendo Switch a need or a want?
a. Need
b. Want
b. Want, even though it's fun, you can survive without it.
Why save money?
a. To buy something you want in the future
b. For the fun of it
a. To buy something you want in the future
If you save $6.00 each week for 4 weeks. How much will you have?
a. $24.00
b. $20.00
a. $24.00
$6 x 4 = $24.00
What are needs?
a. Things we would LIKE to have
b. Things we MUST have
b. Things we MUST have
Is a car payment a fixed or variable expense?
a. Fixed
b. Variable
a. Fixed because it doesn't change
Is going on vacation a need or a want?
a. Need
b. Want
b. Want
Yes or No: A big purchase can be a bike.
a. Yes
b. No
a. Yes
If you save $5.00 each week for 6 weeks. How much will you have?
a. $25.00
b. $30.00
b. $30.00
$5 x 6 = $30.00
What are wants?
a. Things we would LIKE to have
b. Things we MUST have
a. Things we would LIKE to have
Is the electric bill a fixed or variable expense?
a. Fixed
b. Variable
b. Variable because it changes
Is eating out a need or a want?
a. Need
b. Want
b. Want
Yes or No: A small purchase can be a game console, like a Nintendo Switch
a. Yes
b. No
b. No, the Nintendo Switch is a big purchase
If you save $10.00 each week for 10 weeks. How much will you have?
a. $90.00
b. $100.00
b. $100.00
$10 x 10 = $100