Income, Expenses, Savings & Spending 🌟 – 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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Income is:
Explanation:
Hello superstar! Income is all the money coming in. You are doing wonderfully learning about income, expenses, savings, and spending!
Expenses are:
Explanation:
Expenses are the money going out.
Savings is:
Explanation:
Saving helps you reach goals.
Spending means:
Explanation:
Spending is when money leaves your hands.
Your weekly allowance is an example of:
Explanation:
Allowance is money you receive.
Buying lunch at school is an example of:
Explanation:
You are spending money.
If you earn $25 from chores and spend $15 on a game, how much can you save?
Explanation:
Income minus expenses leaves savings.
Needs are expenses like:
Explanation:
Needs are important for daily life.
Wants are expenses like:
Explanation:
Wants are nice but not essential.
A good rule for money is:
Explanation:
This keeps your budget balanced.
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