Lesson 2 - Budgeting (Lesson)

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Open Ended

What is one thing that you found interesting/shocking in the video?

Open Ended

What happened to the backseats?

Open Ended

Instead of gas (petrol) what did Homer buy?

Open Ended

3. Would a normal person sell backseats of a car? Why do you think Homer is doing that?

Poll

Who did you normally get your income from?

• My parents gave me pocket money

• I work and get paid by my boss

• My friends and relatives gave me red packets

• Others

Open Ended

When you receive your income, what are TWO things that you usually buy? 

Open Ended

Why do people need to save money?

Multiple Choice

Based on the 50-30-20 rule, how much should you be spending on "Wants"?

• No more than 50%

• No less than 50%

• No more than 30%

• No more than 20%

Multiple Choice

What is the meaning of "surplus" in budgeting?

• when you spend less money than your income

• when you buy more goods and services than you need 

• When your spending and income are equal

Multiple Choice

According to the 50-30-20 rule, how much of your income should you save?

• At least 30%

• At least 20%

• No need to save money

•  At least 50%

Multiple Choice

A written plan to save and spend your money is known as....

• Budget

• Expenses

• Surplus

• Income

Multiple Choice

The money that you receive from work or your parents are known as.....

• Budget

• Income

• Expenses

• Deficit

Multiple Choice

You are in a "deficit" when...

• you spend more than you earn

• you earn more than you spend

• you don't spend any money

• you spend as much as you earn

Multiple Choice

"Taxes" are the money that the government

• gives to people so that people goods and services such as cars and clothes

• collects from people so that the government can build facilities like schools and hospitals

• lends to people so that the people can buy houses