Grade 7 Personal Finance Worksheet
This worksheet helps 7th-grade students understand basic personal finance concepts like budgeting, saving, and responsible spending.
Includes
Standards
Topics
Personal Finance Fundamentals
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Date:
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Read each question carefully and answer to the best of your ability. This worksheet will test your understanding of personal finance concepts.
1. What is a budget primarily used for?
To spend money without limits
To track income and expenses
To make quick investments
To avoid paying taxes
2. Which of the following is an example of a fixed expense?
Dining out
Monthly rent
New clothes
Vacation travel
3. Money set aside for future use is called .
4. A is a plan for how you will spend and save your money.
5. When your expenses are greater than your income, you have a .
6. Wants are things you must have to survive, like food and shelter.
True
False
7. Saving money regularly can help you achieve your financial goals.
True
False
8. List two benefits of creating and sticking to a budget.
9. Explain the difference between a need and a want, and give an example of each.
Use the words below to complete the sentences.
10. The money you earn from work or other sources is called your .
11. Money you spend on goods and services are your .
12. When you borrow money that you need to pay back, you are in .