Budgets and Money

Which of the following is an example of a need for most people?

• A place to live
• A nice car
• Designer jeans

You can save money in all these places EXCEPT

• piggy bank
• Bank
• Giving it to charity
• In your closet

It's important to spend money on things you need before spending money on things you want.

• True
• False

Jack wants a new phone, but he needs a new notebook for class.  What should he do?

• Buy the notebook and put away money for the phone.
• Buy the phone and put away money for the notebook.
• Buy the notebook and tell Brennon to buy him the phone.
• Buy the phone and use Brennon's notebook for a while.

The price or amount you pay for something that you want or need.

• saving

• cost

• needs

• wants

People who earn paychecks pay income taxes to the government.

• True
• False

What is a need?

• Something we need in order to survive.
• Something fun.
• Something we earn.
• Something automatically given to you.

Why do people need jobs?

• because they are bored
• to earn money for needs and wants
• because kids are in school all day
• to volunteer

Something you have to have such as food or water.

• savings

• needs

• wants

• borrow

Something you make to help you spend or save money wisely

• finance

• budget

• withdrawal

• wants