🎯 Grade 5 📖 7. Financial Literacy 🎯 Income and expenses

Kashef 🌟 Income and Expenses!

60 practice questions included

Free lessons: 1 of 5

🧠 Practice Questions 60 total

Which of these is an example of income for a Grade 5 student?

Explanation: Allowance for helping at home is income. You are learning so well!

Which of these is an example of an expense?

Explanation: Buying school supplies is an expense because money is going out. Wonderful!

Why is it important to track your income and expenses?

Explanation: Tracking helps you make smart decisions about saving and spending. You are becoming a smart money manager!

What is a simple budget?

Explanation: A budget is a plan that shows your income and planned expenses. Great!

Which is a good example of balancing income and expenses?

Explanation: Spending less than or equal to your income helps you avoid problems. Excellent habit!

Allowance is an example of...

Explanation: Allowance is money you receive as income. Wonderful!

Buying lunch at school is an example of...

Explanation: It is an expense because you are spending money. You are learning so well!

What is the best reason to track expenses?

Explanation: Tracking helps you make wise choices. You are a clever money manager!

Which is a fixed expense that happens regularly?

Explanation: Lunch money or bus fare is a regular expense. Great example!

You earn $20 from chores and want to buy a $12 game. How much will you have left to save?

Explanation: $20 - $12 = $8 left. Excellent planning!

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