Planned & Unplanned Spending 3.9C

Front

What is planned spending?

Back

Planned spending is when you decide in advance how to spend your money on things you need or want.

Front

What is unplanned spending?

Back

Unplanned spending is when you have to spend money unexpectedly, often due to emergencies or sudden needs.

Front

Give an example of planned spending.

Back

Saving money to buy a new bike after budgeting for it.

Front

Give an example of unplanned spending.

Back

Having to pay for car repairs after an accident.

Front

What is a benefit of planning your spending?

Back

You can save money and avoid overspending.

Front

What does it mean to budget your money?

Back

Budgeting means creating a plan for how to spend your money wisely.

Front

Why is it important to save money?

Back

Saving money helps you prepare for future expenses and emergencies.

Front

What is a consequence of unplanned spending?

Back

It can lead to financial stress and difficulty in managing your budget.

Front

What is an example of a planned expense?

Back

Paying your monthly rent or mortgage.

Front

What is an example of an unplanned expense?

Back

A sudden medical bill due to an unexpected illness.