Week 26: Budgeting Quiz

What is a budget?

• A type of savings account

• A plan for spending money

• A game about money

• A list of things to buy

What should you do first when creating a budget?

• Pick out a new car

• Calculate how much money you earn

• Decide what you want to buy

• Choose what movies to watch

What is money that you owe called?

• Debt

• Savings

• Donation

• Income

Why is it important to have a budget?

• To win a prize

• To have the most money in your class

• To plan for the future and make responsible choices

• To make sure you can buy everything you want

What might you owe money for?

• A new video game

• A house or a car

• A trip to the moon

• A pet dinosaur

What should you consider first after meeting your needs in a budget?

• Buying a new game

• Savings and Donations

• Going to a movie

• Eating out every day

What is NOT a category in the Needs section?

• Transportation

• Housing

• Utilities

• Video Games

What is a wise plan after setting aside money for needs?

• Spend all the remaining money on wants

• Save for goals like a vacation or a new car

• Donate all of it

• Ignore savings