7SS - 30a - Budgeting

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

• True

• False

Math is used in everyday life and not just in the classroom.

• True

• False

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.3

CCSS.7.RP.A.3

It is better to charge a yearly vacation on a credit card than it is to save monthly for it.

• False

• True

Tags

CCSS.7.RP.A.3

When using credit (like on a credit card or a store card) you pay for the item you bought as well as...

• any taxes

• any interest

• any fees (late, card)

• any earned interest

Tags

CCSS.7.NS.A.3

The Gummy family budget $35 a month for a vacation. How much money will they have saved up if they continue to save this amount for 15 months?

• $525

• $225

• $550

• $50

Tags

CCSS.3.OA.A.3

A financial plan is called a

• budget

• tax

• allowance

• income

What is the difference between saving and investing?

• Saving is for short term purchases and investing is used for long term wealth accumulation.

• Investment requires more risk whereas saving is less risky.

• Investing is for short term purchases and saving is used for long term wealth accumulation.

• Saving requires more risk where as investing is less risky.

If your monthly totals for your budget are more than your actual monthly income you are considered ______________ budget.

• over

• under

• on

• within

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.3

CCSS.7.EE.B.4

CCSS.7.NS.A.1

Kaden’s mom gave him $50 to spend on some new clothes. If Kaden bought 2 shirts for $12.99 each, a pair of jeans for $35.95, and a belt for $4.98, would he be over the clothing budget or under?

• Over

• Under

Tags

CCSS.7.EE.B.3

If an expense can be cut from your budget to save money, it is considered a ______.

• want

• need

• income

• savings