Math Spiral Review Wednesday December 18

Front

What is income?

Back

Income is money that is earned through labor.

Front

What type of spending is planned spending?

Back

Planned spending is when you save money for a specific purchase, like a dining room table.

Front

How do you calculate weekly income?

Back

Weekly income is calculated by multiplying the hourly wage by the number of hours worked in a week.

Front

What is an example of unplanned spending?

Back

Unplanned spending is when you have to buy something unexpectedly, like a new refrigerator when the old one breaks.

Front

Why is it important to save money?

Back

Saving money helps you pay for education, emergencies, and keeps you out of debt.

Front

Which of the following is NOT a good reason to save money?

Back

To keep you from spending any money is NOT a good reason to save.

Front

What is an expense?

Back

An expense is money that is spent on goods and services.

Front

What is the difference between income and expense?

Back

Income is money earned, while expense is money spent.

Front

What does it mean to budget?

Back

Budgeting means planning how to spend your money wisely.

Front

What is a financial goal?

Back

A financial goal is a target amount of money you want to save or earn.