Grade 6 Budgeting Basics
An introductory worksheet on budgeting for 6th graders, covering income, expenses, savings, and financial planning.
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Budgeting Basics
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Read each question carefully and provide your best answer. This worksheet will help you understand how to manage your money wisely.
1. A is a plan for how you will spend and save your money.
2. The money you earn or receive is called your .
3. Things you spend money on, like food or entertainment, are called .
4. Setting aside money for future use is known as .
1. Which of the following is an example of income?
Buying a new toy
Getting your allowance
Paying for a movie ticket
Donating to charity
2. What is the main purpose of creating a budget?
To spend all your money quickly
To track where your money goes
To avoid saving money
To borrow money from friends
1. It is important to save money for unexpected events.
True
False
2. Wants are things you need to survive, like food and shelter.
True
False
1. Imagine you have $20. List two things you would consider 'needs' and two things you would consider 'wants' for yourself.
2. Why is it a good idea to save some of your money instead of spending it all?
Read the scenario below and answer the questions.
Scenario: Sarah gets $10 each week for doing chores. She wants to buy a new book that costs $15 and a toy that costs $8. She also wants to save money for a school trip that costs $50.
1. How much money does Sarah earn in two weeks?
2. If Sarah buys the book and the toy, how much money will she have left?
3. What advice would you give Sarah about saving for her school trip?