Week 26 Studies Weekly

Read the passage. A budget can help you allocate money for spending and saving. When you create a plan for spending and saving, you can meet your goal of buying a new game. Which word helps the reader understand the meaning of the word budget?

• money

• spending

• saving

• plan

You earn $30 for helping out with chores at home. Create a budget for your earnings. (HINTL How much will you spend and what will you spend it on? How much will you save? How much will you donate?)

Sasha is earning money for a new bike. She received $50 for helping a neighbor. What is the best plan to help her meet her goal?

• Give the money back.

• Buy new shoes worth $50.

• Spend $30 on candy and $20 at the movies.

• Purchase new tools for the next job and save the rest.

A budget should include ________________________.

• donating all income

• purchasing wants first

• spending and saving money

• putting all money into savings

Read the passage. Jacob’s mom said she still owes money for their car. It cost more money than she had saved. What is the meaning of the word owes?

• the total cost of the car

• money made driving the car

• taxes paid to the government

• how much more must be paid

Study the budget. How does Claire spend most of her money?

• charity

• clothing

• food

• savings

Study the budget. How much money will Claire have saved after three months?

• $20

• $30

• $60

• $80

What should you think about after setting aside money for your needs?

• buying a car

• saving money for future needs

• spending money on fun things

• donating all of your money

Why is it important to have a budget?

• To help you save time

• To make more money at your job

• To stop you from buying things you want

• To keep you from spending more money than you have

What is one of the first steps in creating a budget?

• Deciding how much to spend on fun activities

• Listing all the things you want to buy

• Determining how much money you earn

• Choosing the goals you will never change