Lesson 4 Assessment: Where Did My Money Go?

1. Knowledge Check

Choose the best answer. Focus on what you would actually do in real life.

1. Jordan earns $180 from a weekend job and creates a budget. Why should Jordan also track spending?

A. Tracking automatically increases income B. Tracking shows whether the real spending matches the plan C. Tracking prevents every unplanned expense D. Tracking is only needed when using cash

2. A student spends $4 on a drink after practice five days each week. About how much is that in four weeks?

A. $20 B. $40 C. $80 D. $100

3. Which method is the best choice for tracking expenses?

A. The most expensive budgeting app B. A spreadsheet, even if you never update it C. The method you can use consistently D. Checking only the account balance at the end of the month

4. Maya notices that she buys food every time she stays late after school. What has she identified?

A. A spending trigger and pattern B. A banking error C. A fixed expense D. Investment income

5. After reviewing his week, Eli finds that he spent $25 less than planned. What is the strongest next step?

A. Spend the extra immediately because it was already budgeted B. Stop tracking because the week went well C. Move some or all of the extra toward savings or a goal D. Increase every spending category next week

6. Short Answer: A first-job student says, “I only spend a few dollars at a time, so tracking is not worth it.” Explain what is wrong with that thinking.

7. Short Answer: Name one spending pattern a student athlete might discover and one realistic change that could help.

2. Real-World Action Challenge

The Five-Minute Spending Snapshot

You do not need to spend money for this activity. Use recent receipts, a bank or payment-app history, screenshots, your notes, or purchases you clearly remember.

Instructions

Find or remember your five most recent purchases.
Write the amount and assign each purchase a category.
Mark each purchase as planned, unplanned, or necessary.
Add the amounts to find your total.
Choose one purchase or pattern you would handle differently next time.

Purchase	Amount	Category	Planned, Unplanned, or Necessary?
	$
	$
	$
	$
	$

Reflection Question: What surprised you most about these purchases, and what is one small rule you could use next time?

3. Extension Challenge (Optional)

Turn One Week Into One Year

Choose one repeated weekly expense, such as snacks, game purchases, rides, recovery drinks, or fast food.
Estimate how much you spend on it in one week.
Multiply the weekly amount by 52 to estimate the yearly cost.
Calculate what would happen if you reduced that spending by 25%.
Explain what you could do with the difference: save it, invest it, or use it for a larger goal.

Example: $20 per week × 52 weeks = $1,040 per year. Cutting 25% saves $260.

4. Key Takeaways

A budget is the plan; tracking shows what actually happened.
Small repeated purchases can become major monthly or yearly costs.
Weekly check-ins help you catch problems before the money is gone.
Categories and spending triggers reveal patterns that a balance alone cannot show.
Tracking only matters when you use the information to make one realistic change.

Answer Key and Explanations

Open each answer only after completing the assessment.

Question 1

Correct answer: B. A budget describes what Jordan wants to do. Tracking records what Jordan actually does, making it possible to compare the plan with reality.

Question 2

Correct answer: C. $4 × 5 days = $20 per week. $20 × 4 weeks = $80. The purchase feels small each day, but repetition creates a much larger cost.

Question 3

Correct answer: C. A simple method used consistently is more useful than a powerful app or spreadsheet that gets ignored.

Question 4

Correct answer: A. Staying late after school is the situation that triggers the spending, and repeatedly buying food is the pattern.

Question 5

Correct answer: C. Money left over can support a savings goal, emergency fund, future purchase, or beginner investment rather than disappearing through extra spending.

Question 6 — Sample Response

Strong answer: Small purchases matter because they repeat. Spending only $3 or $4 at a time can still become $80, $100, or more over a month. Tracking reveals the total instead of relying on memory.

Question 7 — Sample Response

Strong answer: A student athlete might discover that they buy drinks and fast food after every practice. A realistic change would be packing a drink and snack from home three days each week rather than trying to stop all spending immediately.