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Money management review Flashcards | StudBud

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Money management review

13 terms·StudBud Administration·30 plays

Review everything we have learned about good spending habits and money management.

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Questions 13

Answers

1
Ted earns 20 dollars over the weekend. Which examples shows Ted saving money?
Ted spends $10 dollars on pizza and puts away the other $10
Ted puts all $20 in his piggy bank
Ted spends $10 on candy and another $10 on a new video game
Ted spends all his money on a new bike bell
2
What is the definition of a need?
Items you have
Items you desire to have
Items you have to have to survive
I have no idea?
3
What are good spending habits?
Buying your favorite candy
Balancing out wants and needs
Balancing out loans and debts
Spending all your money on wants
4
What is a budget?
A plan for spending and saving money
Spending $30 dollars on roller-skates
Buying everything you want
Not buying anything
5
Many things in the world cost money
False
True
6
What is the definition of a loan?
Money you spend
Money you share
Money you earn
Money you have to borrow from the bank
7
What is an example of a need? (More than one right answer)
Tv
Iphone
Socks
Food
8
When should you start having good spending habits?
5th grade
Highschool
Right Now!!!
2 months
9
What is the definition of debt?
Paying your neighbor money
None of the above
Paying a school fee
Paying money you borrowed back
10
Why is it good to have a budget? (More than one correct)
To increase the chance of taking out a loan
To be financially responsible
To understand where your money is going
To understand what a penny looks like
11
What happens when we save money?
We put it away for later
We have to get a loan
We buy all our wants
We go into debt
12
What is an example of a want?
Clothes
Food
Xbox
Water
13
What is the definition of a want?
Items you desire to have
Items you need to survive
Items you already have
Items your parents buy