BM: Budgeting, Checking, Saving

BM: Budgeting, Checking, Saving

Assessment

Flashcard

Mathematics

9th - 12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

Student preview

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15 questions

Show all answers

1.

FLASHCARD QUESTION

Front

What is a budget?

Back

A budget is a financial plan that outlines expected income and expenses over a specific period, helping individuals manage their money effectively.

2.

FLASHCARD QUESTION

Front

What are the main purposes of creating a budget?

Back

The main purposes of creating a budget are to prioritize expenses, track spending, and help achieve financial goals.

3.

FLASHCARD QUESTION

Front

How does budgeting help in tracking spending?

Back

Budgeting helps in tracking spending by providing a clear overview of where money is going, allowing individuals to adjust their habits accordingly.

4.

FLASHCARD QUESTION

Front

What is the importance of prioritizing expenses in a budget?

Back

Prioritizing expenses in a budget ensures that essential needs are met first, allowing for better financial management and savings.

5.

FLASHCARD QUESTION

Front

What is a common feature of mobile banking apps?

Back

A common feature of mobile banking apps is providing real-time spending alerts to help users monitor their finances.

6.

FLASHCARD QUESTION

Front

How can mobile banking apps assist with budgeting?

Back

Mobile banking apps assist with budgeting by allowing users to track their spending, set financial goals, and receive alerts for transactions.

7.

FLASHCARD QUESTION

Front

What is the benefit of having easy access to savings?

Back

Easy access to savings allows individuals to quickly withdraw funds in case of emergencies without penalties or delays.

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