Personal Budget Review

Front

Which of the following is an expense in a personal budget? Money received as a gift. Money spent on groceries. Money earned from investments. Money saved in a bank account.

Back

Money spent on groceries.

Front

Which of the following items should Alex include in his budget? How many hours he will spend playing video games. How many books he will borrow from the library. How much money he will spend on snacks at school. How many stickers he will trade with his friends.

Back

How much money he will spend on snacks at school.

Front

Which of the following is an expenditure in a personal budget? buying a new shirt for school, selling an old game to a friend, getting paid for helping your neighbor, receiving an allowance from your parents

Back

buying a new shirt for school

Front

Why is it important to track your expenses?

Back

to ensure you stay within your budget

Front

What does it mean to save money?

Back

put money aside for later

Front

What does it mean to donate money?

Back

give money away to help others

Front

Daniel received $20 for his birthday. What would that be called in his personal budget?

Back

income

Front

In a personal budget, your income should always be greater than your _______.

Back

expenses

Front

What does it mean to have a balanced budget?

Back

income is the same or more than expenditures

Front

What is one benefit of creating a personal budget?

Back

A budget helps people plan for future expenses.