Budgeting- 4th grade standard

One reason people keep a personal budget is that it can help them to

•  earn a promotion at work
• set and reach financial goals 
• buy anything they want at any time 

Jayden wants a bigger allowance, but his mother told him that the $10.00 per week she already gives him is enough because he does not have many expenses. Jayden's mother told him that if he wants a bigger allowance, he should make a personal budget that shows why he needs more money and give it to her. What should Jayden make a list of first?

• Jayden should make a list of all of the things he spent his money on over the last year. 
• Jayden should make a list of his monthly sources of income and his monthly expenses.
• Jayden should make a list of all of the chores he has done in order to earn a bigger allowance. 

Every day, Mason pays $3.00 for lunch from the school cafeteria. In what part of his personal budget should he record this amount? 

• income 
•  savings 
• expenses 

Which of these examples should Emily record in the income section of her personal budget?

• her total savings over the last year 
• the price of a new bicycle she wants 
• a birthday gift of $50.00 from her grandfather

People who spend more than they save each month will

• never be able to save any money 
• never be at risk of going into debt
• always have what they want and need 

Daniel would benefit the MOST from a personal budget if he

• saves plenty of his income regularly each month
• always seems to have plenty of money for activities
• knows exactly what his expenses are each month.
• struggles to understand why it is so hard to pay his bills.

Which of the following people would benefit MOST from a personal budget?

• Jeremy carefully tracks his expenses. 
• Lisa spends less money than she earns.
• Kaori does not have enough money to pay bills. 
• Chandler is saving for a major purchase. 

One reason people keep a personal budget is that it can help them to

• earn a promotion at work. 
• set and reach financial goals
• buy expensive items on credit

Which of the following will Klay MOST LIKELY need to save money to buy? 

• a new chicken to lay eggs 
• a new horse to plow his fields
• a wood plank to mend a fence 

Which of the following saving goals is MOST important? 

•  Katrina is saving to hire painters to repaint her house
• Samantha is saving to buy faster gaming computer 
•  Jimmy is saving to replace the old tires on his car