budgeting 2

When making a budget, a person’s needs should come before their wants.

• True

• False

It is smart NOT to save monthly for a yearly vacation.

• False

• True

Tags

CCSS.6.RP.A.3B

Money paid to the federal government is called

• Federal Tax

• Budget

• Income Tax

• Percent

According to the following tax bracket, which category would you fall in if you made $72,000?

$0-$10,000- 2%

$10,000- $50,000 – 15%

$50,000- $70,000 – 20%

$70,000- $105,000- 35%

• 35%

• 2%

• 15%

• 20%

1.A plan for future spending and saving, weighing estimated income against estimated Expenses.

• Gross Income

• Debt

• Expense

• Budget

2.The amount an employee earns once taxes and other items are deducted from his or her gross pay.

• Budget

• Debt

• Gross Income

• Net Income

3.The state of owing money to another individual or business, or the amount of money borrowed.

• Gross Income

• Net Income

• Debt

• Budget

Is this an income or expense?

Pocket money

• Income

• Expense

Is this an income or expense?

Going to the batting cages

• Income

• Expense

Which of these is a need and not a want

• Batting cages

• Movies

• Snacks

• Food