Financial Literacy

Preparing a budget includes

• Income, Expenses, Saving
• Only listing your expenses
• Only listing your debts
• Only listing your income

Fixed or variable expense: Groceries

• Fixed

• Variable

Fixed or variable expense: Rent?

• Fixed

• Variable

A vacation is an example of a _________

• need
• want

Medical care is an example of a ______

• Need 
• Want

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

• True

• False

A financial plan is called a

• budget

• tax

• allowance

• income

A 9th grader makes and sells earrings as a way to earn extra money. The money she gets is considered _______.

• income

• needs

• outflow

• wants

Of all the choices, which one should you budget for first?

• Groceries

• Entertainment

• Cell Phone Bill

• New Car

What is a need?

• Something you must have

• Something you'd like to have

• Something you would like to do

• All of the above