Budgeting

Front

Why does creating a budget make you feel powerful?

Back

A budget puts you in control of your spending and saving, so you make good decisions and feel more confident.

Front

Items in Adda's 'Monthly Bills' budget category EXCEPT: Cell Phone Plan, Rent, Renter's Insurance, Clothing

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Clothing

Front

The two main portions of a budget are...

Back

the money coming in (income) and the money you're spending (expenses)

Front

Why is it important to be able to decide if an item is a NEED or a WANT?

Back

When you budget, you should make sure all your needs are met first, then you can decide to spend on wants

Front

In which situation could unlimited data be a NEED for Ethan? Options: He has an hour-long bus ride each direction to and from school, and he needs that time to complete homework and submit it all online, He has so many social media accounts, and he needs to be able to check them throughout the day, even while in school, Unlimited data will allow him to play video games with his friends even when he's not at home, and he LOVES video games, He loves watching movies, and he's already paid for all the streaming services, so now he needs the data

Back

He has an hour-long bus ride each direction to and from school, and he needs that time to complete homework and submit it all online

Front

Marshawn is trying to determine if an item at the mall is a NEED or a WANT. Which question will be most helpful? Options: Will my teachers be excited if I buy this item, or will they be disappointed? How happy will this item make me? Do any of my friends have this item? Will something bad happen if I don't have this item?

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Will something bad happen if I don't have this item?

Front

Justine's part-time job pays her $8 per hour. She works for 10 hours this pay period. How much is her gross pay?

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$80

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Brandon's gross pay is $250 and net pay is $200. How much were his deductions?

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$50

Front

Why should you use your NET pay when creating a budget?

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Your net pay is a more accurate picture of how much money you have available to spend or save

Front

Which one represents a personal expense instead? Options: Auto insurance, NASA space program, Medicare and Medicaid, Military protection

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Auto insurance