Personal Financial Planning
A Grade 6 social studies worksheet focusing on personal financial planning, including concepts like saving, spending, budgeting, and financial goals.
Includes
Standards
Topics
Personal Financial Planning
Name:
Date:
Score:
Read each question carefully and answer to the best of your ability. This worksheet will help you understand important concepts about managing your money.
1. What is a budget?
A plan for how to spend and save money
A type of bank account
Money you earn from a job
A loan from a bank
2. What is the main benefit of saving money?
To spend it all at once
To have money for future goals or emergencies
To show off to friends
To avoid paying taxes
3. A is the total amount of money you have.
4. When you buy something, you are money.
5. Setting a helps you decide how much to save and how much to spend.
6. It's important to spend all your money as soon as you get it.
True
False
7. A financial goal is something you want to achieve with your money in the future.
True
False
8. List two examples of short-term financial goals.
9. Why is it important to differentiate between 'needs' and 'wants' when planning your finances?
Use the words below to complete the sentences.
10. The money you earn is called your .
11. Money you spend on things like food or clothes are your .
12. Putting money aside for future use is called .