Understanding Income and Budgeting Basics

Understanding Income and Budgeting Basics

9th Grade

10 Qs

quiz-placeholder

Similar activities

13.3 Improve Your Credit Score QUICKLY! (Utilization

13.3 Improve Your Credit Score QUICKLY! (Utilization

9th Grade

8 Qs

NGPF Saving

NGPF Saving

9th Grade - University

15 Qs

Phase 2 Student Competition Quiz

Phase 2 Student Competition Quiz

7th - 12th Grade

7 Qs

Budgeting

Budgeting

9th Grade

15 Qs

Types of Taxes Review

Types of Taxes Review

9th - 12th Grade

13 Qs

FAFSA and Bankruptcy Questions

FAFSA and Bankruptcy Questions

9th Grade - University

11 Qs

Econ G9 Q3

Econ G9 Q3

9th Grade

15 Qs

PF 7.3 Auto Loans & Mortgages

PF 7.3 Auto Loans & Mortgages

9th - 12th Grade

11 Qs

Understanding Income and Budgeting Basics

Understanding Income and Budgeting Basics

Assessment

Quiz

Financial Education

9th Grade

Medium

Created by

ROBSON POJDA

Used 1+ times

FREE Resource

AI

Enhance your content

Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the "50" represent in the 50/30/20 budgeting rule?

50% of your income should go to savings

50% of your income should go to needs

50% of your income should go to wants

50% of your income should go to investments

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a fixed income source?

Salary from a full-time job

Stock market dividends

Freelance project payments

Lottery winnings

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is considered a variable income source?

Monthly pension

Rental income from a fixed lease

Earnings from selling handmade crafts online

Government social security payments

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to the 50/30/20 rule, what percentage of your income should be allocated to savings and debt repayment?

10%

20%

30%

50%

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a good budgeting technique?

Tracking your expenses regularly

Ignoring small purchases

Setting spending limits for categories

Reviewing your budget monthly

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If your monthly income is $1,200, how much should you ideally spend on wants according to the 50/30/20 rule?

$600

$360

$240

$120

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a savings strategy?

Spending all your income each month

Setting up automatic transfers to a savings account

Only saving when you have leftover money

Ignoring emergency funds

Create a free account and access millions of resources

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

By signing up, you agree to our Terms of Service & Privacy Policy

Already have an account?