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WorksheetsFinancial Education - Basics
Total questions: 10
Worksheet time: 5mins
1: What is a budget?
An estimate of the money you expect to earn and spend.
A shopping list.
A way to save money.
To want more money
2: Why is it important to create a budget?
To know how much money your friends have.
To control your money and make smart choices about how to spend it.
To show off your financial skills.
3: What does "spending" refer to?
The act of saving money for the future.
The act of using money to buy goods and services.
The act of investing money in the stock market.
4: Which of the following is an example of a fixed expense?
Buying a new video game.
Going out for dinner with friends.
Paying monthly rent.
5: What does it mean to "save" money?
To spend money on unnecessary things.
To put money aside for future use.
To donate money to charity.
6: Which of the following is an example of a variable expense?
Buying new clothes.
Monthly electricity bill.
School tuition fees.
7: What is the purpose of an emergency fund?
To buy expensive items.
To cover unexpected expenses or emergencies.
To invest in the stock market.
8: What does it mean to "prioritize" your spending?
To spend money randomly.
To spend money on things you want but don't need.
To spend money on things that are most important to you.
9: What is the benefit of tracking your expenses?
It encourages you to overspend.
It helps you understand where your money is going.
It helps you spend money without a plan.
10: What is the relationship between income and expenses in a budget?
Income should be higher than or equal to expenses.
Income and expenses are not related.
Expenses should always be higher than income.
