Grade 9 Budgeting Basics Worksheet
This worksheet covers fundamental concepts of personal budgeting for Grade 9 students, including income, expenses, savings, and financial planning.
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Grade 9 Budgeting Basics
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Read each question carefully and answer to the best of your ability. This worksheet will test your understanding of budgeting principles.
1. A personal is a plan for how you will spend and save your money.
2. are the money you earn, such as from a job or allowance.
3. are the money you spend on things like food, entertainment, and bills.
4. When your income is greater than your expenses, you have a .
5. Setting aside money for future goals is known as .
6. Which of the following is considered a fixed expense?
Groceries
Rent
New clothes
Concert tickets
7. What is the primary benefit of creating a budget?
To spend all your money quickly
To avoid paying taxes
To gain control over your finances
To impress your friends
8. A budget is only useful for people with a lot of money.
True
False
9. Variable expenses are costs that stay the same every month.
True
False
10. Explain the difference between needs and wants when creating a budget. Provide an example of each.
Review the sample budget below and answer the questions that follow.
11. Based on the sample budget, what is the total monthly income?
12. What percentage of the income is allocated to housing in this sample budget?