Budget: Planning Your Money

Fill in the blank: I make a _______ to plan how much I can spend on food.

• budget

• menu

• diary

• record

A budget is a plan for how you will spend your money. Choose one thing that you would include in your budget.

• Income

• Expenses

• Savings

• Entertainment

Fill in the blank: I use my _______ account to buy groceries.

• checking

• savings

• credit

• debit

A checking account is where you keep money for everyday spending. What would you buy using money from a checking account?

• Everyday items, such as groceries

• A car

• A house

• Luxury accessories

Fill in the blank: I put money in my ______ account to use later.

• savings

• checking

• credit

• investment

What would you like to save money for? (Select one option)

• Education

• Retirement

• Vacation

• Emergency

A debit card uses money from your checking account. Fill in the blank: I use my _______ card to buy things with my own money.

• debit

• credit

• savings

• prepaid

A debit card uses money from your checking account. You would use it when making a purchase using funds directly from your checking account.

• To make a purchase using your checking account funds

• To take out a loan

• To deposit money

• To invest money

Fill in the blank: I used _______ to buy something and will pay for it next month.

• credit card

• cash

• check

• debit card

Being careful with credit is important because it prevents excessive debt.

• It prevents excessive debt.

• It increases financial risk.

• It has no impact.

• It automatically improves credit score.