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!

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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.

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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

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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