Spending Plans

Spending plans are decisions about how you spend your allowance.

• True

• False

A written spending plan is the best way to manage an allowance.

• False

• True

Spending plans should be discussed with parents.

• True

• False

Everyone has the same spending plan.

• False

• True

My spending plan must remain the same for an entire year.

• True

• False

Giving to a church or charity can be part of my spending plan.

• True

• False

Changes can be made in my written spending plan:

• Only once a week

• Only once a month

• Only every six months

• As my needs change

Saving provides money for:

• Emergency expenses

• Unplanned expenses next year

• Expenses in five years

• For all these reasons

You can collect information that will help you create a spending plan by:

• Keeping a diary of expenses

• Asking a friend to make it for you

• Deciding what to purchase when you go to the store

• Checking how much money is in your pocket/wechat

Which of the following is NOT a spending plan category:

• Transportation

• Entertainment

• Candy bars

• Clothing