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Understanding Budgeting and Expenses

Authored by Monica Yong

Other

10th Grade

Understanding Budgeting and Expenses
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a budget?

A list of things you want to buy.

A spending plan based on income and expenses.

A record of money you owe to others.

A way to track only your earnings.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary benefit of making a budget?

It helps you spend more money.

It guarantees you will become rich.

It creates financial stability by tracking spending and saving.

It allows you to avoid paying bills.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is debt?

Money you earn from a job.

Money you receive as a gift.

Money you borrow from someone that must be repaid.

Money you save for future purchases.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the first step in creating a budget?

Figuring out how much money you will spend.

Estimating unforeseen changes.

Determining how much money you expect to earn or receive as gifts.

Deciding what items you want to buy.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is another term for the money you expect to earn or receive as gifts?

Expenses

Debt

Income

Savings

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the two main types of expenses mentioned in the video?

Needs and wants

Earnings and gifts

Fixed and variable

Loans and savings

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a fixed expense?

A new video game

A baseball glove

School lunch

A pair of pants

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