Personal Finances

Front

A ____ is a written plan that outlines how money should be used.

Back

budget

Front

In a budget, is it okay to use only a portion of your money?

Back

False

Front

The ____ is a business or institution for receiving, keeping, and lending money.

Back

bank

Front

What is the purpose of the bank? Options: to give out loans to people buying a house, to hold money for people, to have as many people with checking accounts as possible, to make money

Back

to make money

Front

An account that allows a person to write a check from their account to pay for goods or services.

Back

Checking Account

Front

An account that offers a convenient way to save money.

Back

Savings Account

Front

Placing money into an account is called a ____.

Back

deposit

Front

Taking money out of an account is called a _____?

Back

withdrawal

Front

Interest that is in the benefit of the person happens when they _______ money. Options: borrow, lend, spend, invest

Back

invest

Front

Interest that causes a person to pay MORE than what they ask for occurs when someone __________ money. Options: borrows, lend, spend, invest

Back

borrows