Budgeting Quiz

People create and keep a personal budget to help them _____.

• set and reach financial goals

• apply for loan

• buy anything they want

• earn promotions at work

Tags

CCSS.RI.8.2

CCSS.RL.11-12.2

CCSS.RL.7.1

CCSS.RL.8.1

CCSS.RL.9-10.2

Which of the following are considered NEEDs? (You can choose more than one.)

• Airpods

• Water

• A new pair of shoes

• Food

• Playstation 5

Which of the following people would benefit MOST from a personal budget?

• Tim carefully keeps track of his expenses.

• Sue spends less than she earns.

• David is saving for a major purchase.

• Bob does not have enough money to pay bills.

"Pay yourself first" means to assign a portion of your income for your personal savings.

• True

• False

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.5

CCSS.RI.9-10.3

CCSS.RI.9-10.5

Which of the following is not considered as income?

• Tips from waitressing job.

• Commission on sale.

• Cash from garage sale.

• Savings from buying promo items.

The first step in creating a budget is _________.

• know your income

• determine fixed expenses

• determine variable expenses

• review periodically

All are expenses, EXCEPT.

• Internet

• Clothes

• Food

• Extra Income

Tricia makes $9.00 an hour and works 40 hours a week. How much money does she earn in a year.

• $360

• $4,320

• $18,720

• $17,280

Tags

CCSS.7.EE.B.3

If the Moore's monthly income is $5,000 what amount of their budget is spent on miscellaneous expenses?

• $2,000
• $.08
• $200
• $4

Tags

CCSS.6.RP.A.3C

If the Talbot family's income is $3,200 what percent of their budget is spent on medical expenses?

• 15%
• .15%
• 150%
• 100%