Lesson 30 Balance a Budget Problem Solving

Open Ended

Why is it important to understand the difference between income and expenses when creating a budget?

Multiple Choice

Which of the following is an example of an expense based on the table shown?

• Money Saved

• Cell phone

• Income

• Total

Multiple Choice

How could Kevin adjust his budget so he will earn the money he needs in time for basketball camp?

• Spend less on shoes

• Spend less on basketball camp

• Walk fewer dogs

• Paint his uncle’s garage again

Multiple Choice

Which of the following expenses will fit in Jana’s budget this month?

• $40 boots

• $38 computer game

• $35 headphones

• $32 backpack

Multiple Choice

Karl wants Larry to go to a concert with him. Tickets are $17 each. Which of the following could Larry do to make his budget work and afford the ticket?

• Wait to buy the socks

• Wait to buy the soccer ball

• Wait to go to the concert

• Wait to wash the windows

Open Ended

How could Quinn balance her budget? Explain.

Open Ended

Kelly is balancing her budget. She earns $500.00 a week at her job. She puts $100.00 in savings, spends $32.50 on groceries, and spends $27.85 on gas. She says she has $439.65 left after expenses. Is she correct? If not, what mistake did she make and how much does she have left? Explain.

Multiple Choice

Khalid wants to buy a new computer. He has $280 saved already. He earns $8 per hour tutoring. If he tutors 3 hours per day, 5 days per week, how long will it take him to save up to buy a computer that costs $1,600?

• 10 weeks

• 11 weeks

• 12 weeks

• 13 weeks