Smart Shopping for Future Success

What is a budget?

• A plan for spending and saving money

• A list of things you want to buy

• A type of bank account

• A shopping list

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DOK Level 1: Recall

Which of the following is an example of a need?

• A new video game

• Food and water

• A smartphone

• A designer handbag

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DOK Level 1: Recall

What is the first step in creating a budget?

• Buying everything you want

• Listing your income and expenses

• Saving all your money

• Borrowing money from friends

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DOK Level 1: Recall

Which of the following is a smart shopping strategy?

• Buying items on impulse

• Comparing prices before purchasing

• Shopping without a list

• Ignoring sales and discounts

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DOK Level 1: Recall

What is the difference between a need and a want?

• Needs are things you can live without; wants are essential

• Needs are essential for survival; wants are not necessary

• Needs are more expensive than wants

• Needs are always cheaper than wants

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DOK Level 1: Recall

Which of the following is a good way to save money while shopping?

• Buying items at full price

• Using coupons and discounts

• Shopping at the most expensive stores

• Ignoring your budget

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What should you do if you want to buy something but it's not in your budget?

• Buy it anyway

• Save up for it

• Borrow money to buy it

• Forget about it

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Which of the following is an example of a want?

• Medicine

• A new bicycle

• Shelter

• Clothing

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Why is it important to distinguish between needs and wants?

• To ensure you spend all your money

• To prioritize spending on essentials

• To buy more luxury items

• To avoid making a budget

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What is one benefit of making a shopping list before going to the store?

• It helps you buy more items

• It ensures you only buy what you need

• It makes shopping more expensive

• It takes more time to shop

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DOK Level 1: Recall