Planned and Unplanned Spending

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What is planned spending?

Back

Planned spending is when you decide in advance how much money you will spend on certain things, like groceries, rent, or vacations.

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What is unplanned spending?

Back

Unplanned spending is when you buy something without planning for it, like buying a toy you see while shopping.

Front

Give an example of planned spending.

Back

Going on a vacation for summer break is an example of planned spending.

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Front

Give an example of unplanned spending.

Back

Buying a toy you saw while your parents were grocery shopping is an example of unplanned spending.

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How can we avoid unplanned spending?

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We can avoid unplanned spending by making a plan on what we will spend our money on.

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What are some examples of planned expenses?

Back

Examples of planned expenses include entertainment, groceries, and rent.

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Why is it important to plan your spending?

Back

Planning your spending helps you manage your money better and avoid running out of money unexpectedly.

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What happens if you don't plan your spending?

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If you don't plan your spending, you might end up buying things you don't need and run out of money.

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What is a budget?

Back

A budget is a plan that shows how much money you have and how you will spend it.

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What is the difference between needs and wants?

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Needs are things you must have to live, like food and shelter. Wants are things you would like to have but can live without.

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