Grade 8 Budget Planning Worksheet
This worksheet helps 8th-grade students understand and practice essential budget planning concepts, including income, expenses, savings, and financial goal setting.
Includes
Standards
Topics
Budget Planning Basics
Name:
Date:
Score:
Read each question carefully and provide your best answer. Show your work where applicable.
1. is the money you earn, while is the money you spend.
2. A is a plan for how to spend and save your money.
3. expenses are costs that stay the same each month, like rent. expenses change from month to month, like groceries.
1. Which of the following is typically considered a 'need' rather than a 'want'?
New video game
Food
Concert tickets
Designer clothes
2. If your monthly income is $500 and your total expenses are $450, how much money do you have left for savings?
$50
$100
$0
$500
1. Sarah earns $300 per month from her part-time job. Her expenses are $120 for transportation, $80 for entertainment, and $50 for snacks. Calculate Sarah's total monthly expenses and how much she can save.
1. Creating a budget helps you understand where your money goes.
True
False
2. Saving money is only for big purchases, not small goals.
True
False
1. Describe a personal financial goal you would like to achieve. Explain how creating a budget could help you reach that goal.