Personal Finance

A payslip is

• A document from your bank showing money in and payments taken from your bank account over a period of time

• A document from your bank showing your wages being paid into your account

• A document from your employer detailing pay earned and deductions taken over a period of time

• Your own summary of your wages

APR stands for

• Annual Percentage Rate

• Average Percentage Rate

• Annual Percentage Rise

• Average Percentage Rise

True or False: When you use a credit card the money comes out of your bank account straight away.

• True

• False

Gross Pay is

• Your final take home pay

• Your final pay after deductions have been taken off

• An amount you pay to the government

• Your basic pay before deductions have been taken off

True or False: Many banks allow 11 year olds and older to have a debit card with their current account.

• True

• False

Klarna is

• Offered by every retailer

• A method of payment that allows you to spread the cost over 3 payments

• A method of payment that means you must pay imediately

• A bill you pay

Interest is

• An additional amount added to the cost of borrowing

• An amount you pay to the government

• An extra amount added to your wages

• A bank charge

True or False: A current account is an account you use for saving money for a long period of time

• True

• False

Which of the following is NOT an advantage of online banking?

• It makes it easier to track spending

• It means you can access your money 24 hours a day

• You must remember your username and password

• It means you can access your money from the convenience of your own home

DD stands for

• Directed Days

• Direct Debit

• Direct Day

• Direct Danger