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50 30 20 rule

Authored by YVONNE Moe

English

6th - 8th Grade

Used 1+ times

50 30 20 rule
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14 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a budget?

A plan for spending and saving money

A way to spend all your money quickly

A list of things you want to buy

A rule for shopping

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the 50-30-20 rule help with?

Spending all your money quickly

Creating a balanced budget

Avoiding all expenses

Only spending on fun activities

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What percentage of income should go to "Needs" in the 50-30-20 rule?

20%

30%

50%

70%

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is an example of a "Need"?

A new phone

Monthly rent

Concert tickets

Video games

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the 50-30-20 rule, what does 30% of your income go to?

Needs

Wants

Savings

Debt

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a "Want"?

Rent

Groceries

Movie tickets

Medical bills

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If you earn RM 500, how much should you save using the 50-30-20 rule?

RM50

RM100

RM200

RM300

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