Personal Finance

Front

What should Sally consider when making a personal budget?

Back

How many times she goes to the movies with her friends

Front

What is the purpose of a budget?

Back

To help people plan their spending and saving decisions

Front

Which of the following is the most financially responsible decision?

• Macy earned $40 washing cars. She donates it all to save the turtles.
• Jana earns $10 for doing chores. She gets one toy at the dollar store and saves the other $9.
• Jackson receives $20 for his birthday. He spends $30 at target.
• Brendyn earns $50 selling his video games. He spends $50 on new video games.

Back

Jana earns $10 for doing chores. She gets one toy at the dollar store and saves the other $9.

Front

Which of the following is an expenditure?

• Allowance from your parents
• Buying an ice cream at lunch
• Selling an old game to a friend
• Getting paid for helping your neighbor

Back

Buying an ice cream at lunch

Front

Which of the following is an example of income?

• Going to the movies
• Buying an ice cream at lunch
• Selling an old game to a friend
• Paying your sister to help you with your chores

Back

Selling an old game to a friend

Front

What should be included in Donald's plan to become a millionaire?

Back

His plan for saving money over a long period of time

Front

Which is an example of income? Options: Money you get for raking leaves, Money you give to charity, Money you spend on ice cream, Money you waste on bubble gum

Back

Money you get for raking leaves

Front

What is it an example of when you haven't finished your homework, but decide to go to the movies anyway?

Back

Opportunity cost

Front

What does it mean to have a balanced budget?

Back

Income is equal to or more than expenditures.

Front

Why is it important to prepare and follow a budget?

Back

A budget helps people make responsible economic decisions.