Lesson 2: Family Budget

It means planning how to allocate the income of the family.

• Budgeting

• Marketing

• Saving

The money that is kept that can be used for emergency cases.

• Social Needs

• Savings

• Basic needs

It gets the lowest share in the family budget.

• Savings

• Social needs

• Basic needs

Shelter and education gets the biggest share in the family budget.

• TRUE

• FALSE

It helps you keep track of your expenses.

• Priorities

• Records

• Expenses

Prioritize needs over wants.

• TRUE

• FALSE

Income of the family should be managed effectively to ensure that all needs are met.

• FALSE

• TRUE

Amount of money the family gets in a month.

• Expenses

• Income

• Savings

The food of the family should be nutritious and not expensive.

• TRUE

• FALSE

Parties and outings are examples of_____________.

• Social needs

• Basic Needs

• Savings