BUDGETING

What is the ONLY thing you cannot do within a checking account?

• make deposits

• invest in stocks

• write checks

• withdraw money

The card you use to both access funds in your bank account and pay for goods and services is:

• a credit card

• a birthday card

• a gift card

• a debit card

Writing a check is the same thing as:

• making a withdrawal

• getting the bank to issue a cashier's check

• using a debit card

• using a credit card

What can I NOT do with a debit card?

• withdraw money at an ATM

• deposit money at an ATM

• transfer money from one of my accounts to another

• transfer money to another person's account

If I use my debit card for a purchase, I have to put in my PIN number. If I want to use my debit card for a credit purchase, I have to:

• also use my PIN number

• sign a sales slip

• use a different card

• provide additional ID

When I use my debit card, the money is almost immediately taken from my account.

• true

• false

Banks are financial intermediaries between

• Debtors and borrowers

• Debtors and creditors

• Surplus and deficit units

• Individual and corporate

My family is going on vacation this summer, so we are sticking to a ______ to save money.

• Income
• Savings
• Budget
• Expenses

If we decide to go to Top Golf over Spring Break, it would be considered a __________.

• Variable Expense
• Fixed Expense
• Discretionary Expense
• Income

If an expense can be cut from your budget to save money, it is considered a ______.

• Income
• Want
• Need
• Savings