Understanding Expenses and Savings

What are expenses?

• money spent on materials or bills

• money earned

• money you get to keep

Tags

CCSS.4.MD.B.4

Which of the following is a fixed expense?

• Monthly rent

• Grocery bills

• Utility bills

• Entertainment costs

Which of the following is a variable expense?

• Car insurance

• Mortgage payment

• Dining out

• Internet subscription

Which of the following describes the basic purpose of a financial institution?

• To sell products

• To keep money safe

• To provide entertainment

• To manufacture goods

Why might someone borrow money from a bank?

• To increase their savings

• To pay for a large purchase

• To avoid paying taxes

• To reduce their income

Tags

CCSS.RI.3.3

CCSS.RI.4.3

CCSS.RI.5.3

CCSS.RI.6.3

CCSS.RI.7.3

Which of the following is a fixed expense?

• Gym membership

• Clothing

• Gasoline

• Groceries

Which of the following is a variable expense?

• Car payment

• Health insurance

• Vacation costs

• Rent

Which of the following is a fixed expense?

• Electricity bill

• Netflix membership

• Dining out

• Clothing

Which of the following is a variable expense?

• Mortgage

• Car insurance

• Utility bills

• Streaming services

Tags

CCSS.6.NS.B.3

What is a basic purpose of financial institutions?

• To provide loans

• To sell groceries

• To manufacture products

• To offer entertainment