Financial Literacy Vocabulary

Amanda has to pay taxes on her annual salary and investments. Which type of tax is Kimberly paying? 

• Sales Tax
• Property Tax
• Payroll Tac
• Income Tax

Tags

CCSS.L.9-10.6

CCSS.W.9-10.2D

CCSS.W.11-12.2D

CCSS.L.11-12.6

CCSS.L.8.6

Which of the following is an advantage of using a credit card?

• Interest is charged for the use of a credit card.

• Consumers can purchase things now, and pay for them later in the event of an emergency.

• You could be a victim of identity theft.

Which of the following is considered an advantage to using a debit card to make purchases?

• Debit cards are convenient and easy to carry around.
• Purchases can be made quickly and easily.
• You can use many ATMs to get cash.
• All of the above.

The money earned for working and money received for the sale of goods or property is _________.

• credit

• demand

• income

Charitable giving is...

• purchasing goods and services to satisfy wants and needs

• donating to an organization that collects money, goods, or services to groups in need

• abilities that people use (such as their creativity or social skills) to produce something and make moeny

Credit is...

• how much people want a certain good or service.

• buying or obtaining goods or services now with an agreement to pay in the future.

• setting aside money earned or received for future use.

"Money paid for borrowing money or making purchases on credit" is _________.

• income

• scarcity

• interest paid

What is a savings plan?

• money paid for borrowing money or making purchases on credit

• a plan to set money aside for future use

• donating to an organization that collects money, goods, or services to groups in need

"Setting aside money earned or received for future use" is _________.

• saving

• spending

• credit

What does a bank do for you?

• Keep your money safe while allowing you access to it

• Charge you interest on the money they keep for you

• Shine your shoes

• Give you money when you ask politely