Do Now 38

A budget is ___________.

• a list of what to buy at a store

• a plan for managing your money. It compares how much you earn (make) to how much you spend

• is things you shouldn't do

Tags

CCSS.RI.11-12.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

CCSS.RI.9-10.5

A budget _________________________.

• Lets you know how much money you have and where it's going

• lets you know what's for dinner

• is something babies understand

The goal of a budget is _________________.

• to spend more than you make

• to spend less than you make

The income part of a personal budget

• is not important if it is large.

• only includes money from a paycheck (job).

• includes all income from various sources.

• is the amount left over.

Tags

CCSS.7.RP.A.1

CCSS.7.RP.A.3

The expenses section of a personal budget

• should be larger than the income section of the budget.

• shows the amount of money that is spent each month.

• includes the amount of interest earned on investments.

• is not important if income is greater than expenses.

Tags

CCSS.7.RP.A.1

CCSS.7.RP.A.2

CCSS.7.RP.A.3

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

• Tim carefully keeps track of his expenses.

• Sue spends less than she earns.

• David is saving for a major purchase.

• Bob does not have enough money to pay bills.

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.1

CCSS.7.RP.A.1

CCSS.7.RP.A.3

For which item would someone MOST LIKELY need to save money in order to

purchase?

• a new shirt

• a new washing machine

• a hair dryer

• a video game

Tags

CCSS.7.RP.A.3

A budget is a list of

• income and expenditures

• things to buy

• how much to save

• needs and wants

Tags

CCSS.7.NS.A.1

CCSS.7.NS.A.3

CCSS.7.RP.A.3

Because the amount of money I spend on gas depends on the price of gas and how much I use, it is considered a...

• Fixed Expense
• Variable Expense
• Discretionary Expense
• Income

Tags

CCSS.5.OA.B.3

Leon listed some expenses from last month on this table. Which of the following is a fixed expense?

• Gifts for friends

• Sodas

• Car payment

• Sports tickets

Tags

CCSS.3.OA.D.9