Do I have enough money? (1)

Front

What is the concept of 'sufficient funds'?

Back

Sufficient funds refer to having enough money to cover the cost of a purchase or expense.

Front

How do you determine if you have enough money to buy an item?

Back

To determine if you have enough money, compare the amount of money you have with the price of the item.

Front

If an item costs $5 and you have $5, do you have enough money?

Back

Yes, you have enough money because the amount you have is equal to the cost of the item.

Front

If an item costs $6 and you have $5, do you have enough money?

Back

No, you do not have enough money because the amount you have is less than the cost of the item.

Front

What does it mean if you have 'excess funds'?

Back

Excess funds mean you have more money than what is required to make a purchase.

Front

If you have $10 and an item costs $8, how much money will you have left after the purchase?

Back

You will have $2 left after the purchase.

Front

What is a budget?

Back

A budget is a plan that outlines expected income and expenses over a specific period.

Front

Why is it important to know your spending limit?

Back

Knowing your spending limit helps you avoid overspending and ensures you can cover necessary expenses.

Front

What is the difference between needs and wants?

Back

Needs are essential items required for survival (like food and shelter), while wants are non-essential items that enhance quality of life.

Front

If you have $4 and an item costs $5, what should you do?

Back

You should either save more money or look for a less expensive item.