Budgeting Basics Quiz

If you have $50, and you need to buy food and a new phone case, which one would you prioritize and why?

If you have 400 AED, and you need to buy a new pair of school shoes (200 AED), groceries for the week (150 AED), and you also want to go out with friends (100 AED), how would you prioritize your spending and why?

You have 400 AED. How would you split it between your needs (200 AED for food and transport) and your wants (200 AED for a new gadget)?

You have 500 AED. You need to spend 250 AED on food and transport, and you want to buy a new phone case for 150 AED. How much can you spend on your wants?

Which of the following is an example of a need rather than a want?

• New video game

• School supplies

• Movie ticket

• Designer shoes

You receive 600 AED as your monthly allowance. How would you divide it into needs and wants?

• Needs: 100 AED for food and transportation; Wants: 500 AED for entertainment and shopping

• Needs: 400 AED for food and transportation; Wants: 200 AED for entertainment and snacks

• Needs: 600 AED for food and entertainment; Wants: 0 AED

• Needs: 200 AED for transportation; Wants: 400 AED for school supplies

If you have 500 AED and need to buy essential items (food, transport) for 300 AED, how much can you spend on your wants (like entertainment or gadgets) after covering your needs?

If you have 200 AED this week, and you need to buy food (100 AED) but also want to buy a toy (50 AED), how much money will you have left after covering your needs?

You receive 800 AED as your monthly allowance. You need to pay 300 AED for transportation and 150 AED for groceries. After covering your needs, how much money do you have left for your wants, like clothes or entertainment?

You have 1,000 AED. You must spend 350 AED on essential items like rent, food, and transportation. You would also like to spend 200 AED on a new phone case and 150 AED on a weekend trip with friends. How would you prioritize your spending if your total income is limited to 1,000 AED?