balancing budgets day 2

​Balancing a budget

By Monica Sandoval

A budget is....

income vs expenses

On one side, ask yourself what the total income earned is.
On the other, list and add expenses.
Is there a difference between the two?
If so, find if you can save more or spend less.
If not, your budget is balanced. Congrats!

Fill in the Blank

What is the total income?

Fill in the Blank

What is total for expenses ?

Multiple Choice

Did Troy have more income or more expenses?

• income

• expenses

Multiple Choice

What should Troy do to balance his budget?

• Increase his savings by $10

• decrease his savings by $10

• increase his baseball lesson by $5

• decrease his entertainment by $5

Multiple Choice

Mario realized that his expenses exceeded his income by $75. Which of the following expenses would be best for Mario to decrease spending to help him balance his budget?

• entertainment

• food

• rent

• health insurance

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Wants and Needs

Objective: Distinguish the difference between a want and a need.

Distinguish - recognize or notice a difference

Multiple Choice

NEEDS are things we

• don't really need but would like to have.

• must have in order to survive.

A place to live is something we need.

Home can keep us safe from many things.

Toys are a want.

Our wants can be many.

Multiple Choice

Which of these is a need?

• clean air

• new jeans

• cool sneakers

• your favorite candy

Multiple Choice

Which of these is a want?

• food

• water

• shelter

• smartphone

Multiple Choice

Need or want?

• Need

• Want

Multiple Choice

Need or Want

• Need

• Want

Multiple Choice

water

• want

• need

Multiple Select

Check everything that is a NEED.

Fill in the Blank

What is Abel's total income?

Fill in the Blank

What are Abel's total expenses?

Multiple Choice

Using what you know about his income and expenses, how much money could he spend on clothes and still have a balanced budget?

• 140

• 40

• 50

• 100

Fill in the Blank

What is Jazmine's total income?

Fill in the Blank

What is Jazmine's total expenses?

Multiple Choice

Did Jazmine have more income or more expenses?

• income

• expenses

Multiple Choice

What can Jazmine do to balance her budget?

• increase her groceries expense by $50

• decrease her groceries expense by $80

• increase her car payment by $75

• decrease her singing lesson expense by $100