Why should you pay attention to the per unit pricing when grocery shopping?

To ensure you get the best value for your money.

To find the most expensive items.

How much should you save in your emergency fund savings, according to most financial experts?

Three to six months' worth of living expenses

One month's worth of living expenses

Twelve months' worth of living expenses

What does "paying yourself first" mean in personal finance?

It means to prioritize saving and investing a portion of your income before other expenses.

It refers to taking out loans before making any payments.

It suggests investing only in high-risk stocks without saving.

It means to spend all your income before saving.

You are currently getting paid every 1st and 15th of the month. You want to start paying yourself first and have opened a savings account. You want your savings transfers to happen every time you get paid. Which transfer option best matches your pay?

Once a month, starting on the day of your paycheck

Transfer funds weekly on Fridays.

Make a single transfer at the end of the month.

You are currently getting paid bi-weekly. You want to start paying yourself first and have opened a savings account. You want your savings transfers to happen every time you get paid. Which transfer option best matches your pay?

Set up a transfer every other week.

Transfer a fixed amount every year to your savings account.

Set up a weekly transfer to your savings account.

Set up a monthly transfer to your savings account.

Which of these costs would be the MOST difficult to adjust if you were looking to reduce your expenses?

Dining out at local restaurants

Postponing a purchase for a big-screen TV

Which of these boxes of cereal has the LOWEST unit price?

Cereal B, which costs $5.00 for a 32 oz. box

Cereal A, which costs $3.20 for a 16 oz. box

Cereal C, which costs $2.50 for a 10 oz. box

Cereal D, which costs $4.50 for an 8 oz box

Which description is most accurate for a Zero-Based Budget?

You put every dollar of your net pay into a budget category each month

You spend your checking account balance down to $0 every month

You spend your saving account balance down to $0 every month

You pay every one of your debts down to $0 every month

Personal Financial Literacy: Budgeting Test

Quiz

•

Mathematics

•

9th - 12th Grade

•

Practice Problem

•

Easy

•

CCSS

6.RP.A.3B, 6.RP.A.3C, 7.EE.B.3

+8

Standards-aligned

Jeff Da Moude

Used 4+ times

FREE Resource

40 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The 50/30/20 rule describes how much a person should be budgeting for their needs, wants, and savings.
**Which of the following expenses is a need according to the 50/30/20 rule?**

gym membership

travel fund

rent or mortgage

cable TV subscription

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What should 30% of your income go towards, if you are following the 50/30/20 rule?

Wants

Needs

Investments

Savings

Tags

CCSS.6.RP.A.3C

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to the 50/30/20 rule, what percentage of your income should you allocate to
savings?

10%

30%

50%

20%

Tags

CCSS.6.RP.A.3C

4.

FILL IN THE BLANK QUESTION

1 min • 1 pt

You have a monthly income of $2,000. You plan to follow the 50/30/20 rule for budgeting.
How much of your monthly income can you spend on wants?

Tags

CCSS.6.RP.A.3B

5.

FILL IN THE BLANK QUESTION

1 min • 1 pt

You have a monthly income of $3,000. You plan to follow the 50/30/20 rule for budgeting.
How much of your monthly income can you spend on needs?

Tags

CCSS.6.RP.A.3B

6.

FILL IN THE BLANK QUESTION

1 min • 1 pt

You have a monthly income of $3,500. You plan to follow the 50/30/20 rule for budgeting.
How much of your monthly income should you save?

Tags

CCSS.6.RP.A.3B

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The 50/30/20 rule describes how much a person should be budgeting for their needs, wants, and savings.
**Which of the following expenses is a savings according to the 50/30/20 rule?**

Dining out expenses

Retirement account contributions

Utility payments

Grocery bills

Tags

CCSS.6.RP.A.3C

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Personal Financial Literacy: Budgeting Test

40 questions

The 50/30/20 rule describes how much a person should be budgeting for their needs, wants, and savings.
**Which of the following expenses is a need according to the 50/30/20 rule?**

What should 30% of your income go towards, if you are following the 50/30/20 rule?

According to the 50/30/20 rule, what percentage of your income should you allocate to
savings?

You have a monthly income of $2,000. You plan to follow the 50/30/20 rule for budgeting.
How much of your monthly income can you spend on wants?

You have a monthly income of $3,000. You plan to follow the 50/30/20 rule for budgeting.
How much of your monthly income can you spend on needs?

You have a monthly income of $3,500. You plan to follow the 50/30/20 rule for budgeting.
How much of your monthly income should you save?

The 50/30/20 rule describes how much a person should be budgeting for their needs, wants, and savings.
**Which of the following expenses is a savings according to the 50/30/20 rule?**

A pack of 8 light bulbs costs $12
What is the cost per bulb?
Round your answer to the nearest whole cent.

Here is the price tag for an item at a grocery store:

What is the per unit price of the following item?

Why should you pay attention to the per unit pricing when grocery shopping?

Create a free account and access millions of resources

Similar Resources on Wayground

Popular Resources on Wayground

Discover more resources for Mathematics

Personal Financial Literacy: Budgeting Test

40 questions

The 50/30/20 rule describes how much a person should be budgeting for their needs, wants, and savings.Which of the following expenses is a need according to the 50/30/20 rule?

What should 30% of your income go towards, if you are following the 50/30/20 rule?

According to the 50/30/20 rule, what percentage of your income should you allocate to savings?

You have a monthly income of $2,000. You plan to follow the 50/30/20 rule for budgeting.How much of your monthly income can you spend on wants?

You have a monthly income of $3,000. You plan to follow the 50/30/20 rule for budgeting.How much of your monthly income can you spend on needs?

You have a monthly income of $3,500. You plan to follow the 50/30/20 rule for budgeting.How much of your monthly income should you save?

The 50/30/20 rule describes how much a person should be budgeting for their needs, wants, and savings.Which of the following expenses is a savings according to the 50/30/20 rule?

A pack of 8 light bulbs costs $12What is the cost per bulb?Round your answer to the nearest whole cent.

Here is the price tag for an item at a grocery store:What is the per unit price of the following item?

Why should you pay attention to the per unit pricing when grocery shopping?

Create a free account and access millions of resources

Similar Resources on Wayground

Popular Resources on Wayground

Discover more resources for Mathematics

The 50/30/20 rule describes how much a person should be budgeting for their needs, wants, and savings.
**Which of the following expenses is a need according to the 50/30/20 rule?**

According to the 50/30/20 rule, what percentage of your income should you allocate to
savings?

You have a monthly income of $2,000. You plan to follow the 50/30/20 rule for budgeting.
How much of your monthly income can you spend on wants?

You have a monthly income of $3,000. You plan to follow the 50/30/20 rule for budgeting.
How much of your monthly income can you spend on needs?

You have a monthly income of $3,500. You plan to follow the 50/30/20 rule for budgeting.
How much of your monthly income should you save?

The 50/30/20 rule describes how much a person should be budgeting for their needs, wants, and savings.
**Which of the following expenses is a savings according to the 50/30/20 rule?**

A pack of 8 light bulbs costs $12
What is the cost per bulb?
Round your answer to the nearest whole cent.

Here is the price tag for an item at a grocery store:

What is the per unit price of the following item?