Understanding Money Management Concepts

What is the term for money that you earn, such as your salary or wages?

• Expenses

• Income

• Debt

• Savings

Which of the following is an example of a fixed expense?

• Grocery bills

• Rent

• Entertainment

• Dining out

What is the term for a plan that helps you manage your spending and saving?

• Debt

• Budget

• Income

• Overspending

If you spend more money than you have, what is this called?

• Savings

• Income

• Overspending

• Budget

Which of the following is considered a need?

• Smartphone

• Water

• Video games

• Designer clothes

What is the term for money that you owe to lenders?

• Savings

• Income

• Debt

• Expenses

Tags

CCSS.6.NS.C.5

Which of the following is an example of a flexible expense?

• Mortgage payment

• Utility bills

• Car insurance

• Subscription services

What is the term for money that you put away to use later?

• Income

• Expenses

• Savings

• Debt

Which of the following is considered a want?

• Medicine

• Shelter

• Vacation

• Food

• Savings

• Overspending

• Budgeting

• Fixed expenses

Tags

CCSS.7.NS.A.1B