Lesson 30: Balance a Budget Session 1 and 2 Combined

Open Ended

Why is it important to understand how to balance a budget in everyday life?

Multiple Choice

Wyatt earns $12 helping his grandmother rake leaves in her yard. He wants to buy a new comic book for $6.99 and save $5.00. Does he have enough money to do both?

• Yes

• No

Share your strategy with your partner.

Multiple Choice

What is the total amount Wyatt wants to spend and save?

• $11.99

• $12.00

• $6.99

• $5.00

Multiple Choice

What operation is needed to find the total amount of money Wyatt needs?

• Addition

• Subtraction

• Multiplication

• Division

Multiple Choice

Which of the following expressions correctly represents the comparison between the money Wyatt earned and the total amount he wants to spend and save?

• $12 - ($6.99 + $5.00)

• $12 + $6.99 + $5.00

• $12 × $6.99 × $5.00

• $12 ÷ ($6.99 + $5.00)

Multiple Choice

Which of the following best describes a budget?

• A way to increase your income

• A list of things you want to buy

• A plan that shows the money you earn and spend

• A method for spending all your money

Multiple Choice

Based on the budget worksheet, what is the total amount spent on expenses, and is the budget balanced?

• $11.99, not balanced

• $12.00, balanced

• $11.99, balanced

• $12.00, not balanced

Open Ended

Why is it important to keep track of income and expenses?

Multiple Select

Which of the following are considered expenses in Polly’s budget?

• College savings account

• Sweatshirt

• Walking her neighbor’s dog

• Doing yard work

Multiple Choice

Which of the following is NOT an expense listed for Polly in July?

• College savings

• Sweatshirt

• Vacation spending

• Buying a new bike

Open Ended

Can Polly meet her goal of having $30 saved for vacation? Explain.