Budgeting Basics Quiz

Budgeting Basics Quiz

7th Grade

13 Qs

quiz-placeholder

Similar activities

Introduction To Economics

Introduction To Economics

6th - 8th Grade

15 Qs

7 BST review 1

7 BST review 1

7th Grade

10 Qs

Office Orientation

Office Orientation

7th - 9th Grade

10 Qs

Component 3 - Promotion Quiz (KO1/Block 1)

Component 3 - Promotion Quiz (KO1/Block 1)

1st - 12th Grade

10 Qs

Ways to Invest

Ways to Invest

7th Grade

10 Qs

Level of Involvement in Trade

Level of Involvement in Trade

1st - 10th Grade

10 Qs

Factors of Production

Factors of Production

7th Grade

14 Qs

Parts of the Word Screen and PDF

Parts of the Word Screen and PDF

KG - University

12 Qs

Budgeting Basics Quiz

Budgeting Basics Quiz

Assessment

Quiz

Business

7th Grade

Practice Problem

Medium

Created by

Jay Jordan

Used 6+ times

FREE Resource

AI

Enhance your content in a minute

Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...

13 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the first step in creating a budget plan?

Estimate your monthly expenses

Determine your monthly income

Set financial goals

Differentiate between needs and wants

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is setting financial goals important in budgeting?

It helps in reducing expenses

It provides a direction for your spending and saving

It increases your income

It is not important

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a need?

Eating out at restaurants

A new video game

Rent or mortgage

A vacation

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a want?

Food

Water

Shelter

Designer clothes

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How often should you review and adjust your budget?

Once a year

Every month

Only when you get a raise

Never

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What tool can you use to track your spending?

A budgeting app

A spreadsheet

A paper and pen

All of the above

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is it important to differentiate between needs and wants when budgeting?

To spend more money on wants

To ensure you can cover your basic living expenses

Wants are more important than needs

It is not important

Create a free account and access millions of resources

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?

Discover more resources for Business