Savings Unit 2

Which of the following represents the 50/20/30 Rule for budgeting?

• 20% Needs, 50% Wants, 30% Savings

• 50% Savings, 30% Needs, 20% Wants

• 30% Wants, 50% Savings, 20% Needs

• 50% Needs, 30% Wants, 20% Savings

Tags

CCSS.7.RP.A.2

CCSS.7.RP.A.3

Things you would like to have but are not necessary.

• Bills

• Savings

• Wants

• Needs

Tags

CCSS.K.MD.B.3

If you get money each week from your parents, possibly for doing chores, this is called what?

• An Allowance

• Wants

• Savings

• Net Pay

Rent, electricity, gas, phone, groceries are examples of costs which are called what?

• Income

• Expenses

• Taxes

• Wants

The total amount of money you receive in a paycheck before anything is taken out is called what?

• Net Pay/Income

• Savings

• Income Taxes

• Gross Pay/Income

Tags

CCSS.7.RP.A.3

A physical or electronic document that provides details about money earned on a job and deductions made.

• Budget

• Allowance

• Pay Stub

• Income

Tags

CCSS.7.EE.B.3

CCSS.7.RP.A.3

Money that is deducted from a person's income or a company's profits for federal or state purposes.

• Income Taxes

• Expenses

• Bills

• Net Pay

Tags

CCSS.7.RP.A.2

CCSS.7.RP.A.3

Money that is set aside for future short or long term goals or emergencies is called what?

• Allowance

• Needs

• Savings

• Wants

A debt you owe for goods (ex. food, games or clothes) and services (ex. hair cut).

• Bills

• Needs

• Income Taxes

• Wants

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.1

CCSS.7.NS.A.3

A plan for spending and saving income during a set period of time.

• 401k Retirement Account

• Net pay

• Budget

• Social Security

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.1

CCSS.7.NS.A.2

CCSS.7.NS.A.3

CCSS.7.RP.A.2

CCSS.7.RP.A.3