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WorksheetsVocab Application Savings and Budgeting
Total questions: 25
Worksheet time: 18mins
Charlotte buys a new book from the store. The money she spends on the book is called:
Expense
Goods
Income
Fixed Income
Grace goes shopping and buys a new dress and a toy. What are these physical items called?
Expense
Goods
Income
Fixed Income
Abigail receives money every month from her job and also earns some from selling handmade crafts online. What is this money called?
Expense
Goods
Income
Fixed Income
Kai works at a local store and receives the same small amount of money every week for his job.
Expense
Goods
Income
Fixed Income
Arjun is looking for an investment that pays steady income, similar to what bonds offer. What type of investment should Arjun consider?
Fixed Income Fund
Financial Stability
Long-Term Financial Goal
Mid-Term Financial Goal
Short-Term Financial Goal
Abigail earns enough from her job to pay all her bills each month and still manages to save some money. What is this situation called?
Fixed Income Fund
Financial Stability
Long-Term Financial Goal
Mid-Term Financial Goal
Short-Term Financial Goal
Abigail wants to save enough money to buy a house, which she estimates will take her over five years to achieve. What type of money goal is this?
Fixed Income Fund
Financial Stability
Long-Term Financial Goal
Mid-Term Financial Goal
Short-Term Financial Goal
Arjun wants to save money to buy a car within the next three years. What type of money goal is this?
Fixed Income Fund
Financial Stability
Long-Term Financial Goal
Mid-Term Financial Goal
Short-Term Financial Goal
Avery wants to buy a new laptop within the next 8 months. What type of money goal is this?
Fixed Income Fund
Financial Stability
Long-Term Financial Goal
Mid-Term Financial Goal
Short-Term Financial Goal
Benjamin receives his monthly allowance and spends it on his needs, wants, and savings until the money runs out. What budgeting method is Benjamin using?
No Budget Method
Pay Yourself First Method
Price Per Unit
Services
Sophia receives her monthly salary and immediately sets aside a portion of it for her savings before spending on anything else. What method is Sophia using?
No Budget Method
Pay Yourself First Method
Price Per Unit
Services
Rohan is shopping for cereal and notices that different brands have different package sizes and prices. He wants to figure out how much each brand costs for each ounce to make a smart choice. What is this method called?
No Budget Method
Pay Yourself First Method
Price Per Unit
Services
Abigail works at a salon giving haircuts and sometimes waits tables at a local restaurant. She gets paid for the work she does. What is this type of work called?
No Budget Method
Pay Yourself First Method
Price Per Unit
Services
Benjamin receives his paycheck from work. After taxes are deducted, what is the term for the money he actually gets?
Take-Home Pay
Pay Yourself First Method
Inflation
Services
Nora notices that the cost of groceries and gas has increased over the past year, making her money worth less than before. What is this situation called?
Take-Home Pay
Pay Yourself First Method
Inflation
Services
Corey Makes about 2,000 a month. The following describes his goal. Place the goals into the appropriate categories.
Remember:
-Short-Term goals take less than a year
-Mid-Term Goals take between 1-5 years
-Long-Term Goals take more than 5 years
Buying a new phone
Graduating highschool
Buying a house
Graduating from college
Saving enough money for retirement
Buying a car
Increasing his grades
Saving for his senior trip
Traveling the world
Starting a business
Completing a homework assignment
Joining a new club
Exercising three times a week
Reading a book this month
Learning a new language
Getting a part-time job
Match the following examples with the correct words
$1 buys less each year.
Inflation
After taxes Evan's paycheck goes from $800 dollars to $300 dollars
Take hompay
James usually doesn't decide where his paycheck will be spent. He just spends money until it is gone
No-budget method
Before she does anything else. Zoie transfers $50 to her Savings account every time she gets paid.
Pay Yourself first method
Alisa always has money left over after her pay check. She has 6 months of rent saved.
Financial Stability
Mal wants to avoid running out of money each month. What steps can he take to manage his finances effectively? (choose all that would help him stay financially secure)
Ignore his spending and hope for the best
Create a budget to track his income and expenses
Compare prices and look for discounts when shopping
Focus on purchasing essential items rather than luxury goods
After takes are taken your pay check shoes your (a) . This is the money that you should make a (b) with, or a plan on how you will spend and save your money. The common plan for a Budget is the (c) method. Doing this will help you get to a point that you will have money left over after you pay your bills. This is called (d) . Although many americans are not at this point financial and then actually live on a small amount of money each month that allow them to have money left over. This is know as a (e) .
Nora wants to save money while shopping for a new phone. What should she do?
Buy everything she wants
Spend more money
Compare prices before buying
Borrow money
Benjamin wants to buy a new bicycle in a few months. He decides to set a savings goal to help him reach this target. What is a savings goal?
A limit on how much you can spend
A plan to spend all your money
A target amount of money to save for the future
A game about saving money
This month Mando’s expenses are greater that his income. What are two actions Mando can take in order to balance his budget?
Mando can (a) expenses and (b) income.
To create a budget, you need to track your (a) .
Income is the money you (b) , while expenses are the money you (c)
What is the main advantage of using a budget?
It allows you to spend without limits
It helps you control your spending and save money
It makes it easier to get into debt
It is only useful for businesses, not individuals
What is the connection between goals and savings?
Goals can give you a reason to save.
You can buy goals
You can save goals.
Goals and savings are not connected.
