Personal and Financial Literacy Semester Test

Front

An estimation of your income and expenses. It allows you to track and plan how you will spend your money.

Back

Budget

Front

Expend money with the expectation of achieving a profit or material result by putting it into financial plans, shares, or property, or by using it to develop a commercial venture.

Back

Investing

Front

What's given when a lender grants a borrower money in exchange for later payment?

Back

Credit

Front

Is an account at a bank or credit union where you can deposit funds and earn a small amount of interest.

Back

Savings Account

Front

This is money that's borrowed that needs to be paid back.

Back

Debt

Front

An abundance of valuable possessions or money

Back

Wealth

Front

This is a loan granted to purchase a piece of property where the lender charges interest and can take the title to the property if payments are not made.

Back

Mortgage

Front

What you spend money on, could include common household bills, credit card payments, groceries and anything else that costs.

Back

Expenses

Front

The money you bring in on a regular basis through your job, investments or other source.

Back

Income

Front

This is money that's set aside for use in case of an emergency. Depending on how much you have saved, could cover long-term expenses if you lose your job or with short-term unexpected events such as a car repair.

Back

Emergency Fund