Personal Money Management

Front

The money that you receive for mowing the lawn, babysitting or making good grades is called__________.

Back

income

Front

Tony borrowed money from the bank to buy a new house. A year later he lost his job and has started to not be able to make his house payments. This problem is known as what?

Back

debt

Front

The money that was paid back to me on top of the loan is known as_________.

Back

interest

Front

My ability to borrow money from the bank is known as what? Options: interest, budget, debt, credit

Back

credit

Front

I have been setting aside $100 a month for my children to have money to go to college. This idea is known as what?

Back

savings

Front

My family uses a _____________

Back

budget

Front

You need to start using which of the following personal finance terms? savings, budget, credit

Back

you would need to use all 3 of these

Front

Your forgot to pay $100 on your credit card bill this month, your next month's bill is going to be $112. How much interest did they charge for missing your payment?

Back

12%

Front

You earn $300 a week and you are able to save half of that each week. You are saving money to go on a trip with your friends after you graduate high school. The trip is going to cost $1,350. How many weeks will you have to work to save enough money to go on the trip?

Back

9 weeks

Front

Which of the following is not true about the difference between credit cards and debit cards? Options: purchases made with a debit card come directly out of your bank account, you must pay off your credit card bill monthly or there will be penalties, you must have a bank/checking account to use a debit card, credit cards use money from your savings account

Back

credit cards use money from your savings account