Understanding Budgeting Basics
Authored by Fallon Parker
Financial Education
6th Grade
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main purpose of saving money?
To buy things you want immediately
To have money for future needs or emergencies
To spend on entertainment
To pay for daily expenses
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of a "need"?
A new video game
A pair of designer shoes
Food and water
A smartphone upgrade
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
25%
50%
75%
100%
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best describes a "want"?
A winter coat in cold weather
A new toy when you already have many
Medicine when you are sick
Paying for school supplies
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is it important to distinguish between needs and wants when budgeting?
To ensure you spend all your money
To prioritize spending on essential items first
To avoid saving money
To buy more luxury items
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