Budget basics

A budget it a helpful tool.

• True

• False

A budget is ___________.

• a list of what to buy at a store

• a plan for managing your money. It compares how much you earn (make) to how much you spend

• is things you shouldn't do

A budget _________________________.

• Lets you know how much money you have and where it's going

• lets you know what's for dinner

• is something babies understand

The goal of a budget is _________________.

• to spend more than you make

• to spend less than you make

When you want something you should ALWAYS get it.

• True

• False

Income is all the money you earn (make) over a period of time. Usually a month.

• True

• False

The income of an adult is the money they get for working. The income of a child could be ____________. Check all that apply.

• an allowance (money your parents give you weekly or for chores)

• the money your friends or family give you as gifts

• fake monopoly money (toy)

There are two types of expenses. They are ____________ and _______________. Choose two.

• Essential Expenses (things that you need)

• iReady expenses

• Non-Essential Expenses (things you don't need but spend money on anyways)

Choose a picture of a budget.

• 
• 
• 

A budget helps you save money for the things you really want.

• True

• False