Balance the Budget

What does budgeting mean?

• Storing money in different bank accounts

• Spending money everyday

• Working out how much money is available for a speci

• Never spending money

_________________ is tax paid on the value of a home or land owned by a person.

Word Bank

Budget

Gross Income

Income Tax

Net Income

Property Tax

Sales Tax

Tags

CCSS.RI.3.10

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

The family washing machine broke down and the plumber says it will cost $200 to fix. This $200 repair is not in the budget. How can the budget be adjusted to cover the cost of the repair?

• Don't spend any money or eat for a week

• Only spend money on necessities and restrain from luxuries such as movies and expensive food items then use this money to help pay for the cost.

• Wear the same clothes so you don't need to use the washing machine

• Buy lots of luxuries and go out for meals and to the movies every week

Tags

CCSS.6.NS.B.3

Isaac knows he will be spending more money in December. Selling unused personal items a good way to

save extra money, true or false?

• True

• False

Tags

CCSS.RI.1.1

CCSS.RI.2.1

CCSS.RI.3.1

CCSS.RL.2.1

CCSS.RL.3.1

_________________ is money that is paid to a city, state, or the U.S. government based on yearly earnings.

Word Bank

Budget

Gross Income

Income Tax

Net Income

Property Tax

Sales Tax

Tags

CCSS.RI.4.7

CCSS.RI.5.7

CCSS.RI.6.7

CCSS.RL.5.7

CCSS.RL.6.7

Ms. Vonn’s monthly budget is shown in the chart. She receives two paychecks per month. Ms. Vonn’s

budget is balanced every month. How much is Ms. Vonn’s monthly car payment?

• $2,100

• $300

• $2,400

• $500

Tags

CCSS.4.OA.A.3

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 increase income

• Decrease expenses and decrease income

• Decrease expenses and increase income

• Increase expenses and decrease income

Tags

CCSS.6.NS.C.7C

_________________ is the income that is left after taxes.

Word Bank

Budget

Gross Income

Income Tax

Net Income

Property Tax

Sales Tax

Tags

CCSS.L.2.4E

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

So far this month Nancy has the expenses and income shown in the chart. Nancy wants to buy some music online but also have a balanced budget. Based on Nancy’s current budget, what is the greatest amount of

money she can spend on music?

• $5

• $10

• $35

• $140

Tags

CCSS.7.NS.A.3

The total income before any taxes are taken out is ____________________.

Word Bank

Budget

Gross Income

Income Tax

Net Income

Property Tax

Sales Tax

Tags

CCSS.7.RP.A.3