Balancing a Budget

What two things does a budget compare?

• Income and Expenses
• Savings and Interest
• Income and Investments
• Expenses and Expenditures

the total amount of personal income earned before taxes and deductions

• Net Income

• Gross Income

• Budget

• Taxes

Jill earned $220 gross income last month.  She had to pay $13 for payroll tax and $27 for income tax.  How much was Jill's net income?

• $260
• $193
• $180
• $40

Tags

CCSS.3.OA.D.8

Money taken out of your income on your paycheck

• Gross

• Net

• Deductions

• Expenses

when your expenses and Income are equal

• Net income

• Gross income

• Balanced budget

• Payroll tax

Jordan's net income is $725 a month. She has a monthly car payment of $275 and saves $75. How much money can she spend and still have a balanced budget?

• $1,075.00

• $675.00

• $375.00

• $125.00

What is an example of an income?

• Purchasing a new bike
• Buying new clothes
• Mowing the lawn for money

Tags

CCSS.7.EE.A.1

What is an example of an expense?

• Babysitting
• Mowing the lawn
• Buying a new shirt

Tags

CCSS.6.EE.A.1

This month Mando’s expenses are greater than his income. What are two actions Mando can take in order to balance his budget?

• Increase expenses and decrease income

• Decrease expenses and decrease income

• Decrease expenses and increase income

• Increase expenses and increase income

Tags

CCSS.6.NS.C.7C