Home Library Explore SAT

Home Library Explore SAT

Budgeting - Financial literacy 2 Flashcards | StudBud

Explore/Budgeting - Financial literacy 2

Budgeting - Financial literacy 2

13 terms·StudBud Administration·2 plays

A quick introduction into personal finance and budgeting for 5-7th graders.

Flashcards13 cardsFPractice quizPHost liveL

Questions 13

Answers

1
What is the first thing to consider when budgeting?
Needs vs Wants
How much money your friends have
The best snacks to buy
The latest tech gadgets
2
What is a budget?
A special wallet
Free money
A plan for how to use your money?
A type of bank account
3
How much of your money should go to wants?
30%
20%
0%
50%
4
Which of these is a want?
Transportation
Groceries
Starbucks
School supplies
5
What is the bucket method?
Saving only when you feel like it
Putting money in an actual bucket
Buying in bulk
Splitting your money into categories
6
How can you get more money for fun?
Have a higher income
Don't save or invest
Spend your money on depreciating assets
Spend your money on luxury items
7
How much of your money should go into savings/investments?
20%
30%
50%
0%
8
Which of these is a need?
Housing
A Netflix subscription
A new phone
A fancy restaurant dinner
9
Which of these is an example of an expense?
Free coupons
Walking to school
Groceries
Watching tv
10
What is financial FOMO? (fear of missing out)
Spending money becasue your firends are
A bank account for kids
A type of budgeting plan
Fear of missing out on money
11
How much of your money should you use for needs?
20%
30%
0%
50%
12
Which of these is a good way to save money?
Not tracking expenses
Using the “Bucket Method”
Spending all of your money
Buying things without checking prices
13
How do you avoid financial fomo?
Stop comparing yourself to others
Spend money on things you don’t need
Only buy expensive items
never save