Money Budget

Why should you calculate a daily budget?

• To avoid buying things impulsively

• To make shopping easier

• To control your monthly spending

• To save leftover coins

What is the first step in managing your budget?

• Saving leftover coins

• Making a shopping list

• Choosing affordable meals

• Reviewing your spending

What is the purpose of saving a small amount daily?

• To use for shopping

• To keep as an emergency fund

• To spend on internet data

• To buy snacks

How can you save small leftover coins?

• Use them immediately to buy snacks

• Store them in a container to accumulate savings

• Exchange them for bills at a bank

• Ignore them because they are insignificant

a plan outlining an estimate of expected income and expenditure

for a given period of time

• foreshadow

• evidence

• conversion

• budget

How often should you review and adjust your budget?

• Once a year

• Every month

• Only when you get a raise

• Never, once a budget is set it should not be changed

Which of the following is a benefit of using a budget?

• It eliminates the need to save money

• It increases your expenses

• It helps you organize your finances and achieve your goals

• It reduces your income

What should you do if you consistently spend more than you earn?

• Continue spending as usual

• Borrow money to cover the deficit

• Adjust your budget to cut unnecessary expenses

• Increase your fixed expenses

What is a good strategy for managing irregular income?

• Spend less during months with lower income

• Use credit cards to cover shortfalls

• Create a budget based on average income

• Avoid saving until income stabilizes

What type of meals should you choose to save money?

• Expensive restaurant dishes

• Cheap but nutritious meals

• Snacks and junk food

• Takeout from food delivery apps