AKS 64 Personal Finance

What is an agreement to receive something now, pay for it later?

• Credit

• Debit

• Savings

• Investing

What is the money you earn from work?

• Income

• Expenses

• Savings

• Credit

What allows money to be taken directly from a person's bank account?

• Credit Card

• Debit card

• Investment

• Gift card

What allows a loan to be borrowed from the bank to receive something now?

• Credit card

• Debit card

• Cash

• Check

Spending time or money now in hopes of future benefits later is called:

• Investing

• Saving

• Borrowing

• Credit

Which of these is a reason to have a budget for income and expenses?

• To make sure you have enough money to spend and save

• To be able to have the most expensive items

• To buy as much as you can on credit

• To invest all your money

What is opportunity cost?

• The second best choice you give up to have something else

• The price of investing money

• What you lose by not saving money

• The cost of things you need to survive

Select ALL that apply: what is Net pay?

• Total money you earn before taxes and deductions

• Money you're being paid before you pay your employer back for benefits

• Money you have left after deductions and taxes

• Money that is deposited in your bank account

Select ALL that apply: what is Gross pay?

• Total money you earn before taxes and deductions

• Money you're being paid before you pay your employer back for benefits

• Money you have left after deductions and taxes

• Money that is deposited in your bank account

Which is a bigger sum of money?

• Net pay

• Gross pay