Grade 9 Money Management Worksheet
This worksheet covers essential money management concepts for Grade 9 students, including budgeting, saving, and understanding income and expenses.
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Money Management: Grade 9
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Date:
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Read each question carefully and answer to the best of your ability. Show all your work for calculation questions.
1. Which of the following is typically considered an 'income'?
Rent payment
Money earned from a part-time job
Grocery bill
Car insurance
2. What is the primary purpose of creating a budget?
To spend money without limits
To track income and expenses and make informed financial decisions
To avoid paying taxes
To impress friends with wealth
3. The money you earn from work or investments is called .
4. A plan for how you will spend and save your money is known as a .
5. Money spent on goods and services is referred to as .
6. Explain the difference between a 'need' and a 'want' when it comes to personal finance. Give an example of each.
7. Describe two common methods people use to save money effectively.
8. Creating a budget means you can never spend money on entertainment.
True
False
9. Saving money is only important for adults.
True
False
10. Sarah earns $200 per month from her part-time job. Her monthly expenses are: Phone bill: $30, Entertainment: $50, Savings: $40. Create a simple budget for Sarah and calculate how much money she has left for other spending.