Budgeting NGPF

Budgeting NGPF

Assessment

Flashcard

Mathematics, Life Skills

5th - 8th Grade

Hard

Created by

Wayground Content

FREE Resource

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15 questions

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1.

FLASHCARD QUESTION

Front

What is a Pay Stub?

Back

A physical or electronic document that provides details about money earned on a job and deductions made.

2.

FLASHCARD QUESTION

Front

What is Medicare?

Back

A federal health insurance program for those 65 and older, funded by employee contributions throughout their working years.

3.

FLASHCARD QUESTION

Front

What is the 50-30-20 Rule?

Back

A budgeting guideline that suggests allocating 50% of income to needs, 30% to wants, and 20% to savings.

4.

FLASHCARD QUESTION

Front

What are Wants?

Back

Things you would like to have but are not necessary for survival.

5.

FLASHCARD QUESTION

Front

What are Needs?

Back

Essential items required for basic living, such as food, shelter, and clothing.

6.

FLASHCARD QUESTION

Front

What is a Budget?

Back

A plan that outlines expected income and expenses over a specific period.

7.

FLASHCARD QUESTION

Front

What is Income?

Back

Money received, especially on a regular basis, for work or through investments.

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