Banzai Vocab #1

The amount of money left on your paycheck after taxes have been withheld is called?

• Expense

• Net Pay

• Pay Stub

• Balance

An amount available or owed on an account?

• Net Worth

• Debt

• Cash

• Balance

What is the definition of EXPENSE?

• A amount that you owe on something

• What is left over after a payment

• The overall cost of something

• Anything that you spend money on

Deciding how to spend your money before you actually spend it is called a ?

A record or statement of financial expenditures or receipts, often related to a bank or credit union?

• Account

• Group

• Expense

• Debt

A percentage charged when you borrow money. Can also be an amount earned for saving money in a savings account

• Interest

• Expenses

• Principal

• Accounts

The amount of money that you borrow when using a loan or credit card is called?

• Debt

• Outstanding Balance

• Loan

• Principal

What is the correct definition of credit?

• An amount owed from an outstanding balance

• Obtaining something you want with the understanding that you'll pay for it later

• Charging whatever items you want no matter the cost

• The use of funds that are taken out of your checking account

Turning your money over to a financial institution for safekeeping is called _

True or False: A checking account is a bank account that allows quick access to money for everyday expenses.

• True

• False