Financial Math: Building a Budget

Financial Math: Building a Budget

9th - 12th Grade

30 Qs

quiz-placeholder

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EXTRA CREDIT DUE December 2, 2024

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Financial Math: Building a Budget

Financial Math: Building a Budget

Assessment

Quiz

Mathematics

9th - 12th Grade

Easy

CCSS
6.RP.A.3C, 7.RP.A.3, 6.RP.A.3B

+10

Standards-aligned

Created by

Jeff Da Moude

Used 1+ times

FREE Resource

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30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary purpose of a budget according to the text?

To track only your expenses

To help you manage your money by showing how much you have, need to spend, and can save

To increase your income from various sources

To ensure you spend all your money each month

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is it important to prioritize your expenses when budgeting?

To avoid running out of money

To spend more on entertainment

To reduce your income

To ignore unnecessary expenses

3.

DRAG AND DROP QUESTION

30 sec • 1 pt

A budget can help you track (a)   .

Only your debts
Only your savings
Your income and expenses
Your entertainment choices

4.

DROPDOWN QUESTION

30 sec • 1 pt

(a)   is NOT listed as a tool for budgeting in the material provided.

Calculator
Pen
Paper
Printable sheet

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to the material, what should you do after writing down your income and expenses on paper?

Calculate the total number of expenses only

Subtract your expenses from your income to see how much money you have left

Ignore categorizing the expenses

Only focus on your needs and ignore wants and savings

Tags

CCSS.6.NS.B.3

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What can you divide your expenses into according to the budgeting advice given?

Only into savings

Needs, wants, and savings

Fixed and variable costs

Essential and non-essential

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the first step in using the 50/30/20 rule to build a budget?

Calculate your total expenses

Know your income

Identify your financial goals

Review your spending habits

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