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6,4,2 Needs Versus Wants Flashcards | StudBud

Explore/6,4,2 Needs Versus Wants

True or false: Budgeting is a waste of time.

What is a common emergency expense?

6,4,2 Needs Versus Wants

17 terms·StudBud Administration·26 plays

Test your knowledge on budgeting, needs, wants, and the importance of saving money

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Questions 17

Answers

1
What is a common emergency expense?
New toys
Healthcare costs
Video games
Dining out
2
True or false: Budgeting is a waste of time.
True
False
3
What does 'saving money' help with?
Buying toys
Ignoring needs
Spending more
Preparing for emergencies
4
What is a common choice when budgeting?
Ignore needs
Save nothing
Spend on wants first
Prioritize needs
5
What is a good way to spend $10?
Buy all wants
Balance needs and wants
Save it all
Spend it quickly
6
Which is a need?
Movies
Toys
Healthcare
Candy
7
Which is a name-brand item?
Nike shoes
Store brand
Local products
Generic food
8
What should you pay for first?
Wants
Both equally
Neither
Needs
9
What is an example of a need?
Video games
Candy
Bicycle
Food
10
Which is a smart budgeting tip?
Ignore needs
Save for emergencies
Buy everything at once
Spend on wants first
11
True or false: Saving money is unimportant.
False
True
12
Which is a common want?
Food
Video games
Clothes
Water
13
What can happen if you overspend on wants?
Extra savings
No money for needs
More money
More fun
14
What is a need?
A luxury item
Essential for living
A temporary desire
Something fun
15
Which is a goal of budgeting?
To waste money
To balance spending
To avoid saving
To buy everything
16
True or false: Wants are essential for living.
False
True
17
What is a budget?
A savings account
A spending spree
A list of wants
A money plan