Personal Finance

A budget helps people make responsible economic decisions.

• True

• False

Check all statements that are true about a balanced budget.

• A balanced budget is when you have more expense than income.

• A balanced budget is when income is equal to or greater than expenses.

• A balanced budget is when you have the same number of ten dollar bills as one dollar bills.

• A balanced budget helps you make responsible spending and saving decisions.

Which of the following should Sally consider when planning her monthly personal budget?

• How many pencils she will trade with another student.

• How many books she will read at the public library.

• How many beads she will buy at the craft store.

• How many movies she will watch this week.

A balanced budget is when expenses are greater than income.

• True

• False

James wants to be the richest person in the world. Which of the following should he include in his personal budget now to make this happen?

• How he plans to save money over a long period of time.

• How he plans to increase his expenditures this coming year.

• How many Pokemon cards he will trade with friends.

• How he plans to spend money on himself and others.

Which of the following is the MOST financially responsible decision?

• Kate sold her old bike helmet for P500 to a friend.  She gave the P500 to her favorite charity.

• Sue was paid P1,250  for helping her neighbor in the yard. She spent P1,000 on a t-shirt and P250 on ice cream at the mall.

• Jerry earns P5,000 lifeguarding. He spent P250 on lunch and put the other P4,750 in the bank.

• Jared gets P2,500 for his birthday from his grandma. He spends P3,750 on XBox games.

List down at least five importance of money.

What are the four budgeting techniques or methods?

A type of savings that signifies that you own a part of a corporation and a claim to their assets and earnings.

• Stock

• Share

• Dividend

• none is correct

An investment program funded by shareholders that trades in diversified.

• Mutual Funds

• Share program

• Dividends

• None of the answers