WorksheetsBudgeting and Saving
Total questions: 10
Worksheet time: 8mins
If an expense can NOT be removed from your budget to save money, it is considered a _____.
Income
Want
Need
Savings
What is a budget?
An estimate of how much money people will give you.
An estimate of how much money you will earn and how much you will spend.
An estimate of how much money you will give to charity.
A situation where income is greater than expenses is a ___ budget
deficit
surplus
income
expense
What should you prioritise when considering spending?
Wants
Needs
Splurges
All of the above
What is the purpose of a personal budget?
To help keep track of expenses
To guide financial decisions
As a tool to help you save and take control of your income
All of the above
Ben is saving to buy concert tickets for $180 in 3 months time. How much will he need to save on average each month to reach his goal?
$80 a month
$50 a month
$60 a month
$30 a month
Ella is considering going to the movies with her friends. What should she consider when making this financial decision?
The costs involved in going (food, movie ticket, public transport etc) and if these are wants or needs
The benefits of going (eg. social, relaxation)
How the cost will impact her ability to meet her financial goals
How the cost will impact the ability to pay for future needs
All of the above
What is saving?
Spending more than you earn
Earning more than you spend
Knowing how much you earn and spend
Creating a budget
