Banzai Teen Practice

What is a budget?

• The same thing as a savings account.

• Money use to purchase something.

• A list of things you want or need.

What is a debit card?

• A card that takes money directly from your checking account.

• A card that lets you spend money with a promise to pay it back later.

• A card used only for making online purchases.

Which of the following is true about credit cards?

• It is a card that lets you buy goods and services with a promise to repay later.

• If full payment is not made each month, interest charges will be added to the balance due.

• Both of these.

• Neither of these.

What is a checking account?

• Money used to buy goods and services?

• A share in a corporation where profits are made if the company is successful.

• An account where a depositor spends money with checks or a debit card.

• An account where money is stored and earns interest.

What is a savings account?

• An account where money is stored and earns interest.

• The same thing as a checking account.

• An account where a depositor spends money with checks or a debit card.

• An account which allows you to borrow money at a rate of interest.

You have $200, how do you keep track of it?

• Stick it under your bed for safekeeping.

• Put it in your savings account.

• Budget it by splitting it amongst your current and future expenses.

• Spend it all as soon as possible. Because YOLO!

What is debt?

• Withdrawing money from your savings account.

• Spending more money than you currently have.

• Transferring money from one account to another.

Tags

CCSS.RI.5.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

CCSS.RI.9-10.5

Which is a reason to open a checking account?

• Your money is in a safe place.

• You can use checks or a debit card to spend money.

• It makes it easier for others to pay you, or for you to pay others

• All of these.

Your favorite band is playing a concert in a few months and you plan to go. What is the best way to pay for the tickets?

• Use your credit card and pay for it later.

• Ask your parents to buy the tickets for you.

• Add a new category to your budget so you can set aside some money each week to buy the tickets.

Tags

CCSS.RI.8.1

CCSS.RL.8.1

CCSS.RI.6.1

CCSS.RL.6.1

CCSS.RL.7.1

You eat dinner at a restaurant and the bill comes to $33.25. If you leave a 20% tip, what is the total for the meal?

• $33.25

• $36.58

• $39.90

• $6.65

Tags

CCSS.6.RP.A.3C