Needs and Wants/Spending Plan

Where would heavy, warm clothing be a true need?

• nowhere

• everywhere

• in a town with a cold, snowy climate

• in a very big city with a sunny climate

Living on a budget means you...

• can never buy anything fun.

• should get everything that you want.

• don't have to make choices about your money.

• are planning how to spend and save your money.

Tags

CCSS.HSA.CED.A.2

CCSS.HSA.CED.A.3

Is a computer a need or want?

• Need

• Want

• Depends on your individual situation

Which items should you pay for before buying any of your wants?

• Rent

• Utilities

• Groceries

• All of the above

Tags

CCSS.HSA.CED.A.3

Often, responsible budgeting means choosing a less expensive way to get needs taken care of.

• True

• False

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.CED.A.2

CCSS.HSA.CED.A.3

Budgeting successfully means being able to pay for everything you need and some things that you want.

• True

• False

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.CED.A.2

CCSS.HSA.CED.A.3

CCSS.HSA.REI.B.3

Budgeting means never spending anything on wants.

• True

• False

You should only use a budget or spending plan when you have a lower income.

• True

• False

Building saving into your budget is important because..

• it will help you through an emergency

• It will help you prepare to pay for short term goals like a car

• It will help you pay for long term goals like a house or retirement.

• All of these are reasons

Why can't I just pay all my bills and then spend the rest?

• This does not leave any room for saving.

• You can, no problem

• The person at the bank won't like it.

• You pay too much tax that way