Personal Budgeting Quiz

Personal Budgeting Quiz

7th Grade

16 Qs

quiz-placeholder

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Personal Budgeting Quiz

Personal Budgeting Quiz

Assessment

Quiz

Social Studies

7th Grade

Practice Problem

Medium

Used 22+ times

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16 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Amari sets a budget for all his needs, savings, and spends the rest on his other needs. Jay spends his entire pay check on clothes, and saves what is left over. Who has developed the MOST responsible personal budget?

Jay

Amari

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Mark wants to make sure she uses her money wisely each month. What should she consider when creating her personal budget?

credit and loans

spending and saving

interest and debt

income and taxes

3.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Maria is organizing her monthly spending plan. Which TWO of the following categories should she include under " Need Costs"?

utilities

entertainment

clothing

insurance

gifts

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is the BEST example of saving?

Putting part of your allowance into a bank account

Spending all your money on new clothes

Borrowing money from a friend

Making a list of things you want to buy

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What would be the BEST way to balance a budget?

earn a lot more money

lower some expenses

borrow more money

spend more money

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

One benefit of saving money is that it allows people to

spend more on luxury items.

prepare for financial emergencies.

increase their daily expenses.

avoid earning an income.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Maria is a teacher and receives a fixed amount from her school every month. What is this amount called?

her expenses

her savings

her income

her loan

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