Personal Finance Pretest

Front

What is a savings account used for?

Back

Money you won't withdraw frequently

Front

What do you call a transaction that puts money into your account?

Back

Deposit

Front

What is a checking account used for?

Back

Paying bills, Making purchases, Daily spending

Front

What is your "net pay"?

Back

The amount you earn after the withholdings have been subtracted

Front

How many months worth of expenses should you have in your Emergency Fund?

Back

3 months

Front

What are the 3 main core categories to organize your budget plan?

Back

Needs, Wants, Savings

Front

What term do we use to refer to money that is earned?

Back

income

Front

the amount of money a person can earn by being self-employed or by doing a job for another person or business

Back

salary

Front

What term do we use to refer to when we give money to someone else in exchange for something?

Back

spend

Front

What term do we use to refer to when a lender gives you money that you will then need to pay back?

Back

borrowing