Budgeting Flashcard
Flashcard
•
Business
•
8th Grade
•
Practice Problem
•
Hard
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15 questions
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1.
FLASHCARD QUESTION
Front
Why is it important to be able to decide if an item is a NEED or a WANT?
Back
When you budget, you should make sure all your needs are met first, then you can decide to spend on wants
2.
FLASHCARD QUESTION
Front
How will Katie split her budget using the 50/30/20 rule?
Back
50% needs, 30% wants, 20% savings
3.
FLASHCARD QUESTION
Front
How much money has this employee paid in deductions during this pay period? Options: $692.24, $50.00, $0, $15,921.52
Back
$692.24
4.
FLASHCARD QUESTION
Front
Why does creating a budget make you feel powerful?
Back
A budget puts you in control of your spending and saving, so you make good decisions and feel more confident.
5.
FLASHCARD QUESTION
Front
The two main portions of a budget are...
Back
the money coming in (income) and the money you're spending (expenses)
6.
FLASHCARD QUESTION
Front
Marshawn is trying to determine if an item at the mall is a NEED or a WANT. Which question will be most helpful? Options: Will my teachers be excited if I buy this item, or will they be disappointed? Will something bad happen if I don't have this item? Do any of my friends have this item? How happy will this item make me?
Back
Will something bad happen if I don't have this item?
7.
FLASHCARD QUESTION
Front
Which item does not belong in the 'Monthly Bills' category for James' budget? Options: Clothing, Cell phone plan, Rent, Renters insurance.
Back
Clothing
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