Personal Finance- GCPS

Front

Which of the following BEST describes income? Money donated to the local food bank. Money found on the ground. Money in your savings account. Money received for completing a job.

Back

Money received for completing a job.

Front

What should Alecia consider when making a budget?

Back

How much money she spends on snacks.

Front

What is the difference between an income and an expenditure?

Back

An income is money that is received; an expenditure is money that is spent.

Front

What is the purpose of a budget?

Back

To help people plan their spending and savings decisions.

Front

What is the most financially IRRESPONSIBLE (Bad) decision? Janet earns $20 raking up her neighbor's leaves. She then spends $25 at the Kona Ice truck. Kevin earns $5 helping his mom mow the lawn. He spends $1 on ice cream. Jenny earns $100 babysitting for three nights. She saves $75. Paul earns $30 scooping ice cream at the local ice cream shop. He spends $10 on a new jacket- BRR! It's cold in there!

Back

Janet earns $20 raking up her neighbor's leaves. She then spends $25 at the Kona Ice truck.

Front

What should Kara include in her budget to show her mom that she shouldn't get more chores?

Back

Kara should make a list of everything she has to do and make a list of her weekly expenses.

Front

What is an example of an expenditure? Options: getting money for your birthday, finding money in a vending machine, buying a bag of chips from the vending machine, earning money for sweeping the floors

Back

buying a bag of chips from the vending machine

Front

Sara wants to save up enough money to buy a skateboard. Which of the following should she include in her personal budget to make this happen? How much money she saves each week from her allowance.

Back

How much money she saves each week from her allowance.

Front

What is an example of income?

Back

Money you've earned by completing a task.

Front

What was the opportunity cost of deciding to play outside instead of studying for the reading test?

Back

A failed reading test