Family & Consumer Science: Unit 1, Lesson 3

What is the most common type of account opened by people throughout the country?

• Savings

• Checking

• Credit

• Money Market

A checking account is a bank account that stores your money until you want it.

• True

• False

Expenses that are absolutely necessary:

• Fixed expenses

• Nondiscretionary Expenses

• Discretionary Expense

• Checking

A gym membership can be considered a fixed, discretionary expense.

• Yes

• No

• I have no clue

Your monthly rent is considered which of these?

• Fixed

• Discretionary

• Routine

All debt is bad

• True

• False

• I have no clue

Having debt can increase your wealth.

• True

• False

• I have no clue

Using your credit cards to pay for all of the extra items you want and cannot afford during the month is a good use of credit.

• True

• False

• I have no clue

It is difficult to get out of financial trouble.

• True

• False

• I have no clue

Online banking is a convenient way to manage money.

• True

• False

• I have no clue