Budgeting Plus

Which of these items are a need?

• A credit card for Roblox purchases

• Water and food

• A fancy phone

• The latest videogames

Which of the following is a WANT?

• KFC for life

• Shelter to keep you warm

• Clean water

• Medicine when you're sick

Discretionary income is what you spend on rent and bills. True or False?

• True

• False

What does "impulse buying" mean?

• Buying something on your shopping list

• Buying something after thinking about it for months

• Buying something suddenly without planning

• Saving your money for later

What do we call money that is spent on goods and services?

• Expenditures

• Income

• Budget

• Savings

True or False? If you see something on sale and buy it even if you don't need it, it's still a smart financial choice.

• False

• True

What is an example of a long-term goal?

• A plan to buy grocceries next week

• A plan to save money for a year or more

• A plan to finish homework tonight

• A plan to clean your room tomorrow

Which best describes what a budget is?

• A way to calculate taxes

• A plan for saving money only

• A list of items to buy at the store

• A record of income and spending, and a plan for managing money

What is discretionary income?

• Money spent on bills and rent

• Money spent on non-essential goods and services

• Money saved for emergencies

• Money earned from a job

What does a "fixed expense" mean?

• An expense that changes every month

• An expense paid once a year

• An expense based on wants

• An expense that does not change every month