Vault: Understanding Money Lessons 1-3

What is a charity?

• getting paid to do a job
• giving resources or volunteering time to help those in need
• a savings account at the bank
• using credit to pay for something

What is an EXPENSE?

• the cost of the things that people spend money on
• expensive stuff
• expensive shoes or videogames
• savings account

What are ASSETS?

• helps people invest their money
• accounts to put your money 
• a place that will give you a loan
• what a person owns of value like jewelry,car,home

What is a ENTREPRENEUR?

• a person who starts his or her own business
• a person who owns a car
• money earned from working a job
• a place where people put their money for safekeeping

What is CREDIT?

• a loan given to you, but you don't have to pay it back
• things that are made to be sold
• a loan that a person uses to pay for things, but it is expected to pay back
• a friend lets you borrow money

The longer I leave my money in a savings account, the more INTEREST I will earn.

• TRUE
• FALSE

You are going to buy something that costs $200. Connecticut's sales tax is 6.35%. How much is it going to cost?

• $201.70
• $299.70
• $200
• $212.70

What is income tax?

• a tax placed on the money a person earns from doing a job
• money people get from taxes
• money the government puts in the bank
• money that gets put in your bank account

What is a WAGE?

• an exact amount of money for working
• a paycheck
• payment for work,usually calculated by the hour. 
• tax money to spend on building roads

Where can people go for information about money?

• Family Members
• Banks
• Financial Advisors
• All choices