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Money Jars on the Table

A household receives money and decides how to split it. Some goes to must-haves, some to fun, and some is kept for later.

In the picture

  1. Open wallet with banknotes and coins: money coming in
  2. Large glass jar with a miniature house, a grocery bag and a light bulb: essential spending
  3. Middle glass jar with a miniature football and headphones: discretionary spending
  4. Small piggy bank with a coin at its slot: savings

Examples

  • A monthly salary covers rent and groceries first, then a cinema ticket, and moves some money to savings.
  • A birthday gift is divided between a bus pass, a video game, and a savings account.

Quiz: Money Jars on the Table (Age 16)

  1. According to the card, what should be covered before discretionary spending?

    • Essential spending
    • Savings
    • Discretionary spending
  2. How should savings be treated in a household budget?

    • As something only done with leftover money
    • As discretionary spending
    • As a regular expense
  3. Before a household splits its budget, what must it first receive?

    • Savings
    • Money coming in
    • Essential spending

The answers, each with its explanation, are in the app. This lesson has left the free week, so its quiz is part of the subscription.

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Daily Life, Age 16