F1 BUDGET

What is the definition of a budget?

• A plan for spending money

• A list of items to buy

• Money earned from work

• A type of savings account

What does it mean to overspend?

• To spend less than budgeted

• To spend exactly as planned

• To spend more than budgeted

• To save money for emergencies

How often should you review your budget?

• Once a year

• Once a month

• Never

• Whenever you remember

How can you save money when shopping?

• By buying everything you see

• By using coupons and discounts

• By never looking at prices

• By paying extra for fast delivery

What is the consequence of not sticking to a budget?

• Saving more money

• Spending wisely

• Running out of money

Why is it important to save money?

• To never have any money

• To spend all money on luxury items

• To have money for emergencies

• To give all money away

What is the purpose of a spending diary?

• To track daily expenses

• To forget about spending

• To spend money randomly

• To hide spending habits from others

How does budgeting help achieve financial stability?

• By spending money on everything

• By saving money for the future

• By ignoring financial goals

• By spending all money immediately

What is pocket money?

• Money saved in a piggy bank

• Money earned from a part-time job

• Money given to someone regularly for personal expenses

• Money found on the street

Scenario: Sarah receives RM10 as pocket money every week. She wants to buy a toy that costs RM20. What should she do?

• Borrow money from her parents

• Forget about buying the toy

• Save her pocket money for two weeks to buy the toy

• Spend all her pocket money on other things