Budgeting Flashcard

Budgeting Flashcard

Assessment

Flashcard

Life Skills

6th Grade

Hard

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10 questions

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1.

FLASHCARD QUESTION

Front

What is budgeting?

Back

The process of creating a plan to manage income and expenses over a specific period

2.

FLASHCARD QUESTION

Front

What is the first responsibility in budgeting?

Back

Income Tracking

3.

FLASHCARD QUESTION

Front

Which of the following is a short-term savings goal? Buying a house, Emergency fund, Retirement plan, Starting a business

Back

Emergency fund

4.

FLASHCARD QUESTION

Front

What is the purpose of creating a savings plan?

Back

To develop a systematic approach to savings

5.

FLASHCARD QUESTION

Front

What is an example of an interest-bearing account?

Back

Savings account

6.

FLASHCARD QUESTION

Front

Why is discipline important in saving?

Back

To consistently contribute to savings

7.

FLASHCARD QUESTION

Front

Which of the following is considered an essential need? A new smartphone, Food, Designer clothes, A sports car

Back

Food

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