Budget

Budget

Multiple Choice

Claire borrowed $20 from her mom in order to buy game tokens at a festival. Her mom said Claire would have to pay the money back with interest. Which statement best explains what Claire's mom meant?

• She expected Claire to pay back only the money she borrowed.

• She expected Claire to pay back only PART of the money she borrowed.

• She expected Claire to keep all the money she borrowed and not pay any back.

• She expected Claire to pay back the money she borrowed plus an additional amount of money.

​Budget

• Detailed (ex. Lists at store)

• Create plan for saving

• Unplanned expenses ​

Multiple Choice

A budget does NOT need to be specific and detailed?

• True

• False

​Plan for saving

​Benefits of saving:

• ​Save more money

• ​Make money off savings account

• ​Pay cash and not have to take out a loan

• ​Rainy day needs

• ​Unexpected expenses

Multiple Choice

Which of the following is NOT a benefit of saving money

• You can earn interest

• Unexpected expenses

• Losing money

• Save more money

Multiple Choice

You should plan to spend more money than you make/have?

• True

• False

Multiple Choice

Which of these is an example of an unplanned expense?

• car payment

• you get sick and have to go to the hospital

• rent

• saving for vacation

​Sample Budget

• ​Income

• ​Needs

• ​Wants

• ​What to do with total after needs and wants??

Multiple Choice

Which should you budget for first?

• Wants

• Needs

Multiple Choice

Is it ok to budget for fun things such as going to the movies and eating out at restaurants?

• Yes

• No

Multiple Choice

Which expense has the greatest cost?

• income

• house

• tv

• food

Multiple Choice

If you needed to spend less money on your budget, what could you possibly cut out?

• rent

• electricity

• water

• tv

Multiple Select

This lesson was _________

• fun

• really fun

• meh

• lame