Financial Literacy Quiz Review 2 EDITED

money earned or received

• Expenses
• Income
• Deductions
• Check

Tags

CCSS.6.NS.C.5

Mrs. Fanning was able to pay all of her bills with the money she was earning. This means she had a -

• balanced budget

• net income

• gross income

• property bill

Tags

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.9-10.4

CCSS.RI.9-10.4

Expenses that happen each month and are about the same amount.

• Fixed Expenses
• Variable Expenses

Monthly Netflix bill

• Fixed expense
• Variable expense

New clothes

• Fixed expense
• Variable expense

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

• Income
• Want
• Need
• Savings

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

If an expense can not be cut from your budget to save money, it is considered a _____.

• Income
• Want
• Need
• Savings

Tags

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.9-10.4

CCSS.RI.9-10.4

What are two benefits to saving money at a depository institution?

• Pay fees and earn interest

• Insured against loss and earn interest

• Pay fees and lose money

Why is it important to set financial goals?

• So you can spend all the money you want.

• To identify and focus on items that are important.

• So you don't have to focus on items that are important.

Sara was asked to babysit several times during the past week and earned $135. On Saturday, she went to the credit union where she has a savings account to deposit money into her account. Because she is using the "Pay Yourself First" strategy to save 10% of her money, she will deposit $________.

• $1.35

• $135.00

• $13.50

• $0.14