Budgeting

Budgeting is crucial to your financial success.

• True
• False

If an expense can NOT be removed from your budget to save money, it is considered a _____.

• Income

• Want

• Need

• Savings

Tags

CCSS.RI.11-12.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

CCSS.RI.9-10.5

Which of the following is generally the most expensive category in a person’s budget?

• Healthcare

• Clothing

• Transportation

• Housing

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

• True

• False

Tags

CCSS.RI.8.2

CCSS.RL.11-12.2

CCSS.RL.7.1

CCSS.RL.8.1

CCSS.RL.9-10.2

Carla’s monthly income is $2,500. She can spend 35% of her monthly income on her housing category, how much money does she have to spend in this category?

• $875

• $110

• $765

• $90

Tags

CCSS.6.RP.A.3C

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

• want

• need

• income

• savings

Tags

CCSS.RI.7.2

CCSS.RI.8.2

CCSS.RL.11-12.2

CCSS.RL.8.1

CCSS.RL.9-10.2

8.The money an individual spends regularly for items or services.

• Budget

• Expense

• Checking Account

• Financial Plan

Ace’s car holds 23 gallons of gas. If gas is $3.49 per gallon, how much will it cost Ace to fill up his car?

• $80.27

• $26.49

• $27.80

• $50.78

Tags

CCSS.7.EE.B.3

Match the Term to the Correct Definition:

Long Term Financial Goals

• A goal that will be attained in more than one year

• A goal that will be attained in less than one year

• The value of the next best alternative that must be forgone as a result of a decision

Match the Term to the Correct Definition:

Short Term Financial Goals

• Something a person intends to acquire, achieve, or accomplish in the future

• A goal that will be attained in more than one year

• A goal that will be attained in less than one year

• Managing money continuously through life in order to reach your financial goals

• The value of the next best alternative that must be forgone as a result of a decision