WorksheetsBasics of Budgeting and Financial Planning
Total questions: 20
Worksheet time: 10mins
What is a budget?
List of wishes
Plan for saving and spending money
Type of bank account
Shopping list
Why is it important to save money?
To impress friends
To avoid going to school
To prepare for unexpected expenses
To buy candy every day
What should you include in a budget?
Only fun expenses
Income and expenses
Just savings
Only bills
What is an example of an expense?
Birthday gift money
Weekly allowance
Buying groceries
Finding money on the street
What is a paycheck?
A list of chores
Money you earn from working
A type of savings account
A game you play
If you earn $10 for a chore and you save $2, how much do you have left to spend?
$10
$8
$12
$2
What is the best reason to make a shopping list?
To remember what to buy
To spend extra money
To fill your chart with everything
To write down your dreams
What does it mean to "save it for a rainy day?"
To buy an umbrella
To keep money for future emergencies
To spend all your money
To enjoy a rainy picnic
What should you do if you want to buy something expensive?
Borrow from a friend
Save money over time
Ask your teacher for money
Forget about it
What is a wage?
A bill for services
A type of credit card
Money you earn from working
Money you pay for food
What is the difference between needs and wants?
Needs are necessary; wants are optional
Wants are necessary; needs are optional
Both are the same
Needs cost more than wants
Why should you track your spending?
To impress your friends
To understand where your money goes
To confuse yourself
To waste time
What is an allowance?
Money given by parents for chores
A type of bank account
Free money from strangers
Money you pick up from the ground
How can you earn more money?
By dreaming big
By working extra jobs or chores
By spending less
By asking for gifts
What is the purpose of a savings account?
To buy video games
To store toys
To hide money from family
To keep money safe and earn interest
What should you consider before making a big purchase?
If it's on sale
If you really need it
If your friends have it
If it's your favorite color
What is the first step in creating a budget?
Spend money
Calculate income
Borrow money
Find a new bank
What is a financial goal?
A wish to travel
A plan for saving money for something specific
A type of piggy bank
A game you play with friends
Why is it important to spend less than you earn?
To buy more clothes
To save for emergencies and future needs
To impress others
To look rich
What is the benefit of comparing prices before buying?
To spend more money
To find the best deal and save money
To show off to friends
To confuse yourself
