Personal Finance Vocabulary

Multiple Choice

Which of the following terms mean the amount of money earned?

• Bill

• Debt

• Income

• Credit

Multiple Select

Which terms refer to the money you earn? Choose all that are correct.

• Income

• Wage

• Salary

• Expenditure

Multiple Choice

True or False: You should put your wants into your budget before adding your needs.

• TRUE

• FALSE

Multiple Choice

TRUE or FALSE? It is a good idea to plan for your savings before you add any other items into your budget.

• TRUE

• FALSE

Multiple Choice

Which of the following is a spending plan for your money?

• Savings

• Budget

• Deposit

• Bill

Multiple Select

There are costs associated with using credit. Which of these is an example of this cost? Choose all that are correct.

• Interest

• Late fees

• Interest rate

• Credit card fees

What do we know?

Multiple Choice

Hannah got $20 for her birthday. She takes it to the bank and puts it in her account. What is she doing?

• Saving

• Spending

• Budgeting

• Paying Interest

Multiple Choice

Which would be the best choice for a credit card?

• One with a high annual fee and a high interest rate

• One with no annual fee and a high interest rate

• One with a high annual fee and a low interest rate

• One with no annual fee and a low interest rate

Multiple Choice

Which of the following is generally better for your personal finances?

• Paying a bank interest on a loan

• A bank paying you interest on money in your account

• Borrowing a lot of money for a car

• Putting money in your piggy bank

Multiple Select

Which of the following terms are types of income?

• Salary

• Debt

• Wage

• Investment

Multiple Choice

Yejun is looking at his total amount of income.  He is dividing the total into different categories for his budgeting.  What is Yejun doing?

• allocating

• spending

• saving

• investing

Multiple Choice

What is borrowing money and promising to pay it back later with interest added?

• Spending

• Credit

• Investment

• Debit

Multiple Choice

What is another way to describe a budget?

• Personal money management plan

• Creating a business plan (entrepreneurship)

• Planning investments for your retirement

• Spending more money than you have