Budget Questions

Which of the following best describes a want

• something that is fun, special and makes life more enjoyable

• something that is necessary for survival

• something that you are going to get

• something that you are going to plan on having

Which of the following best describes a need

• something that is fun, special and makes life more enjoyable

• something that is necessary for survival

• something that you are going to get

• something that you are going to plan on having

Which of the following is NOT an example of a need

• clothing

• iPhone 14

• groceries

• a place to live

Which of the following is NOT an example of a want

• clothing

• iPhone 14

• groceries

• a place to live

Something that is necessary for survival is called a _______

Something that is is nice to have and enjoyable is called a _______

A goal that will take more than a year to accomplish is a _____ term goal

A goal that will take just a few weeks or months to accomplish is a _____ term goal

An impulse buy is when you

• buy something just because you want it at the moment

• buy something you didn't plan on buying

• think about what you want to buy

• make a plan and budget for what you are going to buy

Stores do a lot of things to try to make you impulse buy and spend more money. One example is when stores make sales or price items for .99. This is called

• advertising

• pricing promotion

• store layout

• product demonstrations