Understanding Budget Vocabulary Quiz

What is the meaning of the word "budget"?

• The amount of money that something costs.

• A plan for how to use the money someone is earning.

• Money or an item that is given away to help people.

• Work someone does around the house.

Which word means "to have enough money to buy something"?

• Afford

• Price

• Savings

• Chore

What is the definition of "donation"?

• The money that someone keeps and doesn't spend.

• Money or an item that is given away to help people.

• A plan for how to use the money someone is earning.

• To figure out what is important and what is not.

Which vocabulary word matches this definition: "Work someone does around the house"?

• Chore

• Price

• Prioritize

• Budget

If you want to "prioritize" your spending, what are you doing?

• Giving away money to help people.

• Figuring out what is important and what is not.

• Keeping money and not spending it.

• Making a plan for your money.

Which word means "the amount of money that something costs"?

• Price

• Afford

• Savings

• Chore

What does "savings" mean?

• Money or an item that is given away to help people.

• The money that someone keeps and doesn't spend.

• A plan for how to use the money someone is earning.

• Work someone does around the house.

• Buy the toy, donate, and save as planned.

• Only buy the toy and save $2.

• Buy the toy and donate, but not save.

• Choose which is most important and adjust your spending.

You have three chores: washing dishes, cleaning your room, and taking out the trash. If you only have time for two, how should you prioritize?

• Do the easiest chores first.

• Do the chores your parents asked for first.

• Do any two chores you like.

• Skip all chores.

• Buy the book anyway.

• Wait and save more money.

• Ask someone else to pay.

• Spend your money on something else.