What is NOT a reason that people usually save money?

to buy special items in the future

to make a down payment on an expensive payment like a house

________ are the main elements of a personal budget

income, expenditures, and savings

income, businesses, and housing

income, housing, and expenditures

What does the expenses section of a budget show?

shows how much money is spent each month

if income is greater than expenses

includes the amount someone has saved

should be a greater amount than the income portion of the budget

What does the income section of a personal budget show?

shows all of a person's income from ALL sources

only includes income from a person's job

is not important if income is greater than expenses

is the total amount that will be left over after expenses

Which of the following people would benefit MOST from a personal budget?

Rachel, who doesn't have enough cash to pay her bills

Chandler, who is saving for a huge purchase

Ross, who spends less money than he earns

Monica, who wisely tracks down what she spends

Sara would benefit MOST from a personal budget if she

struggles to understand why it's so hard to pay her bills

saves most of her income regularly each month

always seems to have plenty of money for activities

knows exactly what her expenses are each month

What are reasons to save money?

all of these are reasons to save money

Which of the following is an example of income?

trading pokemon cards with a friend

buying pencils at the school supply store

charging a lunch you will pay tomorrow

Which of the following should Nick include in his personal budget if he wants to be the richest person in the world?

A. How he plans to save money over a long period of time.

how he spends money on himself and others

How he plans to increase his expenditures this coming year.

How he plans to earn a lot of money over time to spend on others.

Which of the following is an example of an expenditure ?

birthday money from your grandparents

getting paid for walking your neighbor's dog

Personal Finance

Authored by Amanda Dysart

Social Studies

4th Grade

Used 271+ times

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MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A plan for how to use your income is called a

income

expenditure

budget

debt

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An amount of money that is SPENT on something

expenditure

personal budget

debt

savings

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The portion of your income not spent is called

savings

spending

debt

personal budget

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amount of money that is needed to pay for or buy something is called a(n)

saving

expense

debt

income

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Money that is received is called

spending

saving

debt

income

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An amount of money owed to someone is called

debt

income

spending

expenditure

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or False:

People only save money in order to build wealth.

True

False

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Personal Finance

A plan for how to use your income is called a

An amount of money that is SPENT on something

The portion of your income not spent is called

The amount of money that is needed to pay for or buy something is called a(n)

Money that is received is called

An amount of money owed to someone is called

True or False:People only save money in order to build wealth.

What is NOT a reason that people usually save money?

Which of the following items would someone MOST LIKELY need to save money in order to purchase?

________ are the main elements of a personal budget

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True or False:

People only save money in order to build wealth.