Financial Literacy-3rd

Money spent is called...

• income
• net gain
• expense

Money received is called...

• income
• insurance
• savings

What is the current amount of money in your bank account called?

• balance
• debt
• withdrawl
• payment

Damian has $585 in his bank account. His expenses consist of a $150 cell phone payment, $75 for food, and $90 for his internet bill. He also wants to buy his favorite video game and wants to save $65 for the game. Damian wants to be sure he is within his budget because he wants to buy his mother a birthday gift. How much money will Damian have left in his bank account to buy his mother a gift? Will he have enough?

• $205; no he doesn't have anough
• $335; no he doesn't have enough
• $205; yes he has enough
• $355; yes he has enough

Noah keeps track of his checking account balance by writing down all his purchases and deposits. The list below shows his transactions for a week.
- June 3rd, used debit card at coffee shop, $5.85
- June 4th, deposit of $20.00
- June 6th, used debit card for movie tickets, $9.75
- June 6th, used debit card for popcorn and snacks, $10.50
- June 8th, deposit, $115.34
What is the difference between the amount of money Noah spent and the amount of money Noah deposited?

• $109.24
• $203.34
• $150.24
• $254.05

Tags

CCSS.7.NS.A.3

What would be considered an expense?

• Allowance
• Movies

Money added to the cost of items and services.

• Property Tax
• Sales Tax

If Sammy’s expenses are greater than his income, what must he do to balance his budget?

• Earn more money
• Spend less money on expenses
• Earn more money AND spend less
• None of the above

money paid for the use of money

• interest
• insurance
• collateral
• finance charges

What type of tax do you pay for Cheetos and soda?

• income tax
• sales tax
• property tax
• payroll tax