Budgeting

Front

Creating a budget can make you feel powerful! Why?

Back

A budget puts you in control of your spending and saving, so you make good decisions and feel more confident.

Front

Each item below would go into Adian's budget in the "Monthly Bills" category EXCEPT: Cell Phone Plan, Rent, Renter's Insurance.

Back

Clothing

Front

The two main portions of a budget are...

Back

the money coming in (income) and the money you're spending (expenses)

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.

Front

In which situation could unlimited data be a NEED for Ethan?
1. He has an hour-long bus ride each direction to and from school, and he needs that time to complete homework and submit it all online.
2. He has so many social media accounts, and he needs to be able to check them throughout the day, even while in school.
3. Unlimited data will allow him to play video games with his friends even when he's not at home, and he LOVES video games.
4. He loves watching movies, and he's already paid for all the streaming services, so now he needs the data.

Back

He has an hour-long bus ride each direction to and from school, and he needs that time to complete homework and submit it all online.

Front

Tiffany is trying to determine if an item at the mall is a NEED or a WANT. Which question will be most helpful? Will my teachers be excited if I buy this item, or will they be disappointed? How happy will this item make me? Do any of my friends have this item? Will something bad happen if I don't have this item?

Back

Will something bad happen if I don't have this item?

Front

Aubrey part-time job pays her $8 per hour. She works for 10 hours this pay period. How much is her gross pay?

Back

$80

Front

Tyson receives his paycheck, and it says his gross pay is $250 and his net pay is $200. How much money did he have in deductions this pay period?

Back

$50

Front

Why should you use your NET pay when creating a budget?

Back

Your net pay is a more accurate picture of how much money you have available to spend or save.

Front

Three of these items represent services provided by the federal government using taxpayer money. Which one represents a personal expense instead?
NASA space program, Medicare and Medicaid, Military protection

Back

Auto insurance