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Understanding Budgeting

Authored by Carrie Pokallus

Financial Education

9th Grade

Understanding Budgeting
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14 questions

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1.

MATCH QUESTION

30 sec • 1 pt

Match the following budgeting methods with their descriptions:

Envelope system

Allocate money into envelopes for different categories

Pay-yourself-first budgeting

Every dollar is assigned a purpose

50/30/20 budget

Prioritize savings before spending

Zero-based budgeting

Spend 50% on necessities, 30% on wants, 20% on savings

2.

DROPDOWN QUESTION

30 sec • 1 pt

Budgeting can help you (a)   your relationship with money.

Ignore

Understand

Complicate

Forget

3.

MATCH QUESTION

30 sec • 1 pt

Match the following purposes with their descriptions.

Purposefully neglecting account balances and debts

To avoid budgeting

Reviewing account balances to know what is owed

To understand financial obligations

Not planning financial expenses

To ignore them

Spending more without considering financial status

To increase spending

4.

DROPDOWN QUESTION

30 sec • 1 pt

Tracking your income and expenses helps you (a)   patterns.

Ignore

Identify

Complicate

Forget

5.

MATCH QUESTION

30 sec • 1 pt

Match the following actions with their appropriate responses when stuck while budgeting.

If you think buying more will solve your budgeting issues, what is your action?

Ignore the budget.

When you feel overwhelmed and want to quit, what should you do?

Spend more

When you need guidance on budgeting, what should you consult?

Refer to budgeting tips

If you choose to disregard your financial plan, what are you doing?

Give up

6.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

Budgeting encourages you to put your money to work in the best way possible and helps you identify what's ______ up too much of your cash.

7.

DRAG AND DROP QUESTION

30 sec • 1 pt

The zero-based budgeting system assigns every dollar a (a)   . A) Debt B) Purpose C) Expense D) Income.

Debt

Purpose

Expense

Income

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