Budgeting Quiz - US28094

Comparing budget with actual income and expenses to see if changes are needed.

• Wants

• Expenses (Ngā whakapaunga utu)

• Budget review

• Deficit

This happens when you don’t have enough money to pay for your expenses. This means you might need to cut costs or find ways to earn more.

• Deficit

• Household budget (Tahua kāinga)

• Financial goal (Whakatakoto whāinga pūtea)

• Variable or irregular expenses

money saved for unexpected situations, like a car breaking down, a medical bill, or losing a job. It helps people stay financially secure when something unexpected happens.

• Surplus

• Frequency of budget review

• Variable or irregular expenses

• Emergency fund

These are the things people spend their money on, like food, bills, clothes, and entertainment.

• Fixed or regular expenses

• Variable or irregular expenses

• Needs

• Expenses (Ngā whakapaunga utu)

This is something you plan to achieve with your income. It could be saving for a new phone, paying for a school trip, or making sure your family can afford rent and food.

• Expenses (Ngā whakapaunga utu)

• Financial goal (Whakatakoto whāinga pūtea)

• Budget review

• Frequency of budget review

regular costs that stay the same every time, like rent, internet bills, or insurance.

• Fixed or regular expenses

• Deficit

• Financial goal (Whakatakoto whāinga pūtea)

• Variable or irregular expenses

How often a budget is checked and adjusted to stay on track with financial goals, depends upon how they meet the financial goal.

• Frequency of budget review

• Emergency fund

• Household budget (Tahua kāinga)

• Income (Ngā whiwhinga moni)

A future plan for how a family earns and spends money. It helps people make sure they have enough for important things like rent, food, and power, while also saving for the future.

• Income (Ngā whiwhinga moni)

• Household budget (Tahua kāinga)

• Wants

• Deficit

This is the money a person or family gets, usually from jobs, benefits, or other sources like gifts or investments.

• Wants

• Surplus

• Income (Ngā whiwhinga moni)

• Savings

Things you must have to live, like food, shelter, and water.

• Wants

• Needs

• Budget review

• Savings