Personal Budgets

Personal Budgets

5th Grade

12 Qs

quiz-placeholder

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Personal Budgets

Personal Budgets

Assessment

Quiz

Social Studies

5th Grade

Practice Problem

Medium

Created by

Lauren DeLay

Used 2+ times

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12 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The income part of a personal budget

is not important if it is large.

only includes money from a paycheck (job).

includes all income from various sources.

is the amount left over.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The expenses section of a personal budget

should be larger than the income section of the budget.

shows the amount of money that is spent each month.

includes the amount of interest earned on investments.

is not important if income is greater than expenses.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

People keep a personal budget to help them

set and reach financial goals.

earn promotions at work.

buy with credit.

buy anything they want.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following people would benefit MOST from a personal budget?

Tim carefully keeps track of his expenses.

Sue spends less than she earns.

David is saving for a major purchase.

Bob does not have enough money to pay bills.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

For which item would someone MOST LIKELY need to save money in order to

purchase?

a new shirt

a new washing machine

a hair dryer

a video game

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following statements about saving money is false?

People only save money to build wealth.

Bank accounts are very safe.

It is easy to withdraw money from your bank account.

Most saving accounts pay a small amount of interest.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is NOT a reason that people usually save money?

to buy special things for the future

to have money for emergencies

to make a payment on an expensive item

to buy basic necessities

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