2. Money and Budgeting Basics

What is a budget?

• A budget is a document for tracking employee performance.

• A budget is a type of investment strategy.

• A budget is a method for calculating taxes.

• A budget is a financial plan for managing income and expenses.

How do you save money?

• Spend more on luxury items to feel better.

• Ignore savings and focus on immediate gratification.

• Invest in high-risk stocks without research.

• Create a budget and reduce unnecessary expenses.

What is a coin?

• A coin is a type of fruit.

• A coin is a piece of jewelry worn on the body.

• A coin is a digital currency used online.

• A coin is a piece of money made of metal or plastic.

What is a bill?

• A bill is a proposed law.

• A bill is a summary of expenses.

• A bill is a document for a loan.

• A bill is a type of currency.

If you have 3 quarters, how much money do you have?

• 1 dollar

• 25 cents

• 50 cents

• 75 cents

What do you do with extra money?

• Buy luxury items impulsively

• Gamble on uncertain investments

• Save, invest, pay off debt, or spend wisely.

• Donate to charity without a plan

What is the purpose of a budget?

• To avoid any financial planning.

• To increase spending without limits.

• The purpose of a budget is to manage financial resources effectively.

• To track only income without expenses.

How many pennies make a dollar?

• 50

• 25

• 100

• 200

What is the smallest coin in U.S. currency?

• penny

• quarter

• nickel

• dime

Why is it important to keep track of your money?

• To avoid paying taxes on your income.

• To impress others with your wealth.

• It is important to keep track of your money to manage your finances effectively and achieve your financial goals.

• To keep your money hidden from family.