Budgeting for Kids 30 60 10 Rule

What is a budget primarily used for?

• To plan for leisure activities

• To record daily expenses

• To increase income

• To ensure money is available for necessary expenses

Can students practice budgeting?

• Budgeting is only for businesses

• Only adults need to budget

• Yes, even students can budget by saving part of their money

• No, it's not necessary until you have a job

What does the '30' in the 30-60-10 plan represent?

• 30% to be spent on needs

• 30% to be spent immediately

• 30% to be saved for future use

• 30% to be shared with others

What should you do with 60% of your money according to the 30-60-10 plan?

• Donate it

• Save it

• Invest it

• Spend it

Why is it beneficial to follow the 30-60-10 plan from a young age?

• It prepares you for financial emergencies

• It helps in building a large investment portfolio

• It makes managing finances easier as an adult

• It guarantees wealth accumulation