Practice - Steps in Making a Budget
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Practice Questions
Test your understanding with targeted questions
What is a budget?
💡 Hint: Think about what you need to manage your money.
Name one category for expenses in a budget.
💡 Hint: What do you spend money on regularly?
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Interactive Quizzes
Quick quizzes to reinforce your learning
What is the first step in creating a budget?
💡 Hint: What is the first thing you do before calculating how much you have?
True or False: A budget guarantees you won't overspend.
💡 Hint: Think about how planning helps, but it’s not foolproof.
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Challenge Problems
Push your limits with advanced challenges
A family lists their monthly income as $4000 and expenses as $4500. They decide to have a garage sale and earn an additional $300. What are their next steps to balance their budget?
💡 Hint: Consider both increasing your earnings and reducing unnecessary spending.
If the costs of groceries are projected to rise by 10% next month, how should a family adjust its current budget to accommodate this change?
💡 Hint: Think about how you can cut back or find extra income to adjust for the increase.
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