
Personal Budget
Authored by John Robinson
Social Studies
5th Grade

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25 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The income part of a personal budget
is not important if it is large.
only includes money from a paycheck (job).
includes all income from various sources.
is the amount left over.
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The expenses section of a personal budget
should be larger than the income section of the budget.
shows the amount of money that is spent each month.
includes the amount of interest earned on investments.
is not important if income is greater than expenses.
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
People keep a personal budget to help them
set and reach financial goals.
earn promotions at work.
buy with credit.
buy anything they want.
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following people would benefit MOST from a personal budget?
Tim carefully keeps track of his expenses.
Sue spends less than she earns.
David is saving for a major purchase.
Bob does not have enough money to pay bills.
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is a budget?
Plan for buying a home
legal document
plan on how to spend money monthly
instructional guide on the stock market
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
I had to give up going out to dinner in order to buy a new shirt. This is an example of
opportunity cost
price incentive
specialization
poor planning
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A budget is a list of
income and expenditures
things to buy
how much to save
needs and wants
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