budgeting

Why should you have a budget?

• Help you save money

• Allow you to have control of where you want your money to go

• Reach financial stability and achieve your goals

When creating a budget, what area can you easily reduce to save money?

• Fixed expenses

• Discretionary spending

• Retirement savings

• All of these answers

Tags

CCSS.7.RP.A.3

What is one way to sabotage your budgeting goals?

• Spend less on clothing

• Work more hours at your current job or take on a side hustle

• Keep using your credit card without paying off the balance

• Cancel a subscription service

How can you stay on track with your budget?

• Keep track of all your receipts

• Let your impulse buying habits affect your spending

• Use a spreadsheet, ledger or an app

• Let your bank statements/emails pile up without opening them

How often should you review your budget goals?

• every quarter

• every year

• every month

• whenever the mood hits you

A budget will stop you from spending too much money.

• True

• False

Tags

CCSS.RI.11-12.7

CCSS.RI.8.7

CCSS.RI.9-10.7

CCSS.RL.8.7

CCSS.RL.9-10.7

Is pizza a need or a want?

• Need

• Want

• It depends

Tags

CCSS.RI.8.2

CCSS.RL.11-12.2

CCSS.RL.7.2

CCSS.RL.8.1

CCSS.RL.9-10.2

Which of the following is true about net income?

• Net income is the total amount earned before any deductions.

• Net income is the total amount earned after deductions.

• Net income is also called net pay or take home pay.

Tags

CCSS.6.NS.C.5

Marie wants to decrease the amount of money she spends on food. Which of the following will help her?

• Going to the grocery store with a list

• Going to the grocery store whenever she needs one or two items

• Deciding what she will have for lunch/dinner that same day

How does the 50/30/20 method allocate your income?

• 50% Wants, 30% Needs, 20% Savings & Debt Repayment

• 50% Needs, 30% Wants, 20% Savings & Debt Repayment

• 50% Savings & Debt Repayment, 30% Wants, 20% Needs

Tags

CCSS.6.RP.A.3B