Budget Basics

Front

What is a budget?

Back

A tool used to track and plan for income and spending (expenses).

Front

Jackie usually earns $60 a week, but usually spends $30 a week. How much can Jackie save in a month (4 weeks)?

Back

$120

Front

How can creating a budget help you?

Back

It can help me to stay focused on my financial goals.

Front

Which of the following is a true statement about budgets? They help you spend as much as you can. , You can earn more money if you have a budget. , You will be able to spend and earn the same amount. , They help people keep track of their finances.

Back

They help people keep track of their finances.

Front

Which of the following is an essential expense? rent/mortgage, new dress, vacation, a new video game

Back

rent/mortgage

Front

Which of the following is a nonessential (want) expense? mortgage payment, utility bill, vacation, groceries

Back

vacation

Front

Which of the following statements is true? You want to spend more than you earn. You want to save more than you earn. You want to earn more than you spend. You do not need to save money for unexpected expenses.

Back

You want to earn more than you spend.