Test
Creating a personal budget
This teaching material helps 10th-grade students practice creating a personal budget through questions on distinguishing fixed and variable expenses, applying the 50/30/20 rule, and ordering budgeting steps. It encourages applying concepts to realistic budgeting scenarios.
By Edform · Economics and personal finance · Grade 10 · Published Oct 15, 2026 · New
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Questions
- Which of the following is an example of a fixed expense in a personal budget?
- Which of the following are considered variable expenses?
- Fill in the blank: The 50/30/20 rule suggests you spend 50% of your income on _, 30% on _, and 20% on ___.
- Put these steps for creating a personal budget in the correct order.
- Choose the correct word for each blank: A gym membership is usually a _ expense, while buying new shoes is a _ expense.
- Sort the following items into 'Needs' and 'Wants'.
- Mark each statement as true or false.
- If your monthly income is $2,000, how much should you allocate to savings according to the 50/30/20 rule?
- Match each term to its correct definition.
- What is the main purpose of creating a personal budget? (One or two words)
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