3rd Grade Planned and Unplanned Spending Flashcard

Front

Why is it important to plan our spending?

Back

To prioritize needs, avoid unnecessary expenses, and ensure enough for savings and emergencies.

Front

How can we earn money to save for the things we want?

Back

By working, starting a business, investing, or saving money from allowances or gifts.

Front

What is the difference between planned and unplanned spending?

Back

Planned spending is budgeted and intentional, while unplanned spending is spontaneous and not accounted for in the budget.

Front

What are some examples of things we can plan to spend money on?

Back

Groceries, rent, utilities, transportation, entertainment.

Front

What are some examples of things we can save money for?

Back

Examples could include a vacation, a new car, a down payment for a house, or retirement.

Front

What is planned spending?

Back

Planned spending is the money that is budgeted and set aside for specific expenses.

Front

What is unplanned spending?

Back

Unplanned spending is money spent spontaneously without prior budgeting.

Front

Why is saving money important?

Back

Saving money helps us prepare for emergencies and achieve future goals.

Front

What is a budget?

Back

A budget is a plan that outlines how much money you will spend and save over a certain period.

Front

What are needs vs. wants?

Back

Needs are essential items for survival, while wants are things we desire but do not need.