🎯 Grade 5 📖 7. Financial Literacy 🎯 Simple budgets

Kashef 🌟 Simple Budgets!

55 practice questions included

Free lessons: 1 of 5

🧠 Practice Questions 55 total

Why do we make a simple budget?

Explanation: A budget helps you see your money clearly and make smart decisions. Excellent thinking!

What should you write first in a simple budget?

Explanation: Start with your income so you know how much you have. You are a smart planner!

Which is the correct simple budget equation?

Explanation: Income minus expenses shows what is left. Excellent!

You earn $15 from chores. You need $6 for school supplies and want $5 for a snack. How much can you save?

Explanation: $15 - $6 - $5 = $4 left to save. Wonderful planning!

A simple budget helps you...

Explanation: It keeps your spending under control. You are becoming very responsible!

You have $20 income. Your needs cost $12 and you want to save $5. How much is left for a want?

Explanation: $20 - $12 - $5 = $3 for a small want. Super budget!

What is the best first step when making a simple budget?

Explanation: List needs first so you take care of important things. You are wise!

Why is it smart to write down your budget?

Explanation: Writing it down helps you stay on track. Excellent habit!

Which is a need in a simple budget?

Explanation: Food and school supplies are important needs. You are correct!

You earn $18 and plan $10 for needs. How much is left for wants and saving?

Explanation: $8 left. Great planning!

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