Understanding Money and Budgeting

What is money?

• A type of food

• we use to buy things

• A kind of toy

• A type of animal

Value means

• heavy something

• tall something

• something that is something else

• something that is irrelevant to something else

Income is

• money you earn from your work

• money you find on the street

• money you borrow from friends

• money you spend on toys

Budget is

• a type of car

• a plan for your income and expenses

• a type of game you play with friends

• a type of pet

Interest is

• the payment you receive for lending your money to someone else

• the payment you receive for borrowing money from someone else

• the payment you receive for spending money

• the payment you receive for saving money

Money help us buy things by

• making us strong

• being colorful

• being a method of exchange

• being tall

What is the purpose of a budget?

• To spend money recklessly

• To save money for future goals

• To waste money on unnecessary things

• To forget about money

Currencies are

• products

• different forms of money

• loaf of bread

• services

Value is determined based on their

• usefulness

• scarcity

• demand

• all the above

Interest is the payment………. from lending money

• given

• provided

• received

• none of the above