4th Grade Personal Financial Literacy

Question 1

______________ are expenses that change from month to month and do not stay the same.

Accepted Answer

variable expenses

Question 2

Which is an example of a Fixed Expense?

Accepted Answer

weekly lunch

Question 3

______________ are expenses that stay the same every month and do not change.

Accepted Answer

fixed expenses

Question 4

A place that helps us safely store, organize, and manage our money is called a _______________.

Accepted Answer

financial institution

Question 5

Which of these is a variable expense?

Accepted Answer

Concert Tickets

Question 6

Zoe bought new clothes for $17.75 and paid with a 20 dollar bill. How much change did she get?

Accepted Answer

$2.25

Question 7

Which of these is a fixed expense?

Accepted Answer

Rent

Question 8

A financial plan that helps you determine how to save and spend your money is called a _______.

Accepted Answer

budget

Question 9

________ is the amount of money you earn every month by doing a job or receiving allowance.

Accepted Answer

income

Question 10

Which is a reason Alex might go to a bank?

Accepted Answer

To borrow money

Question 11

The amount of money made after all the expenses are paid is called ______________.

Accepted Answer

profit

Question 12

Which is an example of a variable expense?

Accepted Answer

Cost of a book

Question 13

Nick earned $20. He spent $6 on lunch and $8 on a movie. How much did he have left?

Accepted Answer

$6

Question 14

Money paid to buy the things you need and want is called ___________.

Accepted Answer

spending

Question 15

Money put aside to use at a later time is called _____________.

Accepted Answer

saving

Questions 15