Budgeting & Financial Planning 🌟 – Grade 6 Financial Literacy
59 practice questions included
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🧠 Practice Questions 59 total
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Practice Questions
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A budget is:
Explanation:
Hello superstar! A budget helps you manage money wisely. You are doing wonderfully learning about budgeting and financial planning!
Income in a budget means:
Explanation:
Income is what comes in.
Expenses in a budget are:
Explanation:
Expenses are what goes out.
Needs are things like:
Explanation:
Needs are essential for living.
Wants are things like:
Explanation:
Wants are nice but not necessary.
If your weekly allowance is $20 and you spend $12, how much is left?
Explanation:
20 - 12 = 8. Always subtract expenses from income.
A simple budget rule is:
Explanation:
This keeps you balanced.
Saving part of your money is important because:
Explanation:
Saving builds good habits.
If you earn $30 and plan to save 20%, how much will you save?
Explanation:
30 × 0.20 = 6.
Tracking your spending helps you:
Explanation:
You can make better choices.
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