Budget

Math is used in everyday life and not just in the classroom.

• True

• False

A financial plan is called a

• budget

• tax

• allowance

• income

A 10th grader makes and sells jewelry as a way to earn extra money. The money she gets is considered _______.

• income

• needs

• outflow

• wants

What is a need?

• Something you must have

• Something you'd like to have

• Something you would like to do

• All of the above

When making a budget, a person’s needs should come before their wants.

• True

• False

Of all the choices, which one should you budget for first?

• Groceries

• Entertainment

• Cell Phone Bill

• New Car

Which of the following is an example of buying something you NEED?

• "I want to replace something that is no longer working."

• "I want to impress someone/ change how they feel about me."

• "I'm feeling down, and I need to boost my spirits."

• "I don't want to miss out on these deals during the sale!"

If an expense can be cut from your budget to save money, it is considered a ______.

• want

• need

• income

• savings

Ace’s car holds 23 gallons of gas. If gas is $3.49 per gallon, how much will it cost Ace to fill up his car?

• $80.27

• $26.49

• $27.80

• $50.78

The Gummy family budget $35 a month for a vacation. How much money will they have saved up if they continue to save this amount for 15 months?

• $525

• $225

• $550

• $50