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WorksheetsBudget Basics
Total questions: 6
Worksheet time: 10mins
What is a budget?
A tool used to calculate taxes.
A tool used to plan for building a house.
A tool used to track and plan for income and spending (expenses).
A tool used for calculating how much savings interest can be earned
Below is a list of Jackie's financial activities for a week.
What activities would be considered expenses for Jackie? Check all of the ones that are expenses.
She earns $25 for pet-sitting.
She spends $10 on pizza.
She gives a friend a $20 gift card for their birthday.
Her parents give her $30 for doing extra chores around the house.
She spends $10 on a new t-shirt.
Below is a list of Jackie's financial activities for a week.
What activities would be considered income for Jackie? Check all of the ones that are considered income.
She contributes $5 to a class party.
She earns $25 for helping a neighbor do some gardening.
She spends $20 on movie tickets and snacks
Her parents give her an allowance of $25 for the week.
She spends $10 on a new t-shirt.
Jackie usually earns $60 a week, but usually spends $30 a week. How much can Jackie save in a month (4 weeks)?
$30
$60
$90
$120
Jackie realizes it will take her 5 months to save for her new phone. She wants to purchase it within at least 3 months. What are the ways she can adjust her budget to purchase it sooner? Check all that apply.
She can decrease her expenses.
She can increase her expenses.
She can increase her income.
She can decrease her income.
How can creating a budget help you?
It can help me to stay focused on my financial goals.
It will allow me to spend more money than is necessary.
It will help me in calculating my taxes.
It will allow me to stay physically healthy.
