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5.10.E Describe how to balance a budget

Quiz by Grade 5 Math - Texas Education Agency

Grade 5
Math (Archived)
Texas Essential Knowledge and Skills (TEKS)

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5 questions
Show answers
  • Q1
    This month Mando’s expenses are greater than his income. What are two actions Mando can take in order to balance his budget?
    Increase expenses and increase income
    Decrease expenses and decrease income
    Decrease expenses and increase income
    Increase expenses and decrease income
    60s
    5.10.E: Personal Financial Literacy
  • Q2
    The family washing machine broke down and the plumber says it will cost $200 to fix. This $200 repair is not in the budget. How can the budget be adjusted to cover the cost of the repair?
    Don't spend any money or eat for a week
    Only spend money on necessities and restrain from luxuries such as movies and expensive food items then use this money to help pay for the cost.
    Wear the same clothes so you don't need to use the washing machine
    Buy lots of luxuries and go out for meals and to the movies every week
    60s
    5.10.E: Personal Financial Literacy
  • Q3
    Isaac knows he will be spending more money in December. Selling unused personal items a good way to save extra money, true or false?
    True
    False
    60s
    5.10.E: Personal Financial Literacy
  • Q4
    What is a safe and easy way to save money?
    Never spend any money
    Invest your money in stocks and shares
    Start a bank account
    Use multiple piggy banks
    60s
    5.10.E: Personal Financial Literacy
  • Q5
    What does budgeting mean?
    Storing money in different bank accounts
    Spending money everyday
    Working out how much money is available for a specific purpose
    Never spending money
    60s
    5.10.E: Personal Financial Literacy

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