Financial Literacy

Maria wants to buy a car. How can a bank or credit union help her?

• She can work 2 jobs to get the car.

• She can save money in her piggy bank.

• She can borrow money from the bank.

• She can use her debit card to buy the car.

Which one will protect money a person earns?

• A box under the bed

• A credit union savings account

• Your mom's purse

• In your back pack

Which one of the following will NOT require the services of a bank?

• Letting your brother borrow $5.00

• Applying for a car loan

• Borrowing money for a new home

• Keeping $400.00 safe

To deposit money means to -

• take money out of the bank from the savings or checking account

• to use a debit card to buy a jacket

• to make payments on money you borrowed

• to put money into the savings or checking account

To withdraw money means to -

• take money out of the bank from savings or checking account

• to use a debit card to buy a jacket

• to make payments on money you borrowed

• to put money into the savings or checking account

A fixed expense is -

• when you pay different amounts every time you pay

• when you pay off your bill

• when you pay the same amount every time you pay

• when you ask for money to pay

A variable expense is -

• when you pay different amounts every time you pay

• when you pay off your bill

• when you pay the same amount every time you pay

• when you ask for money to pay

What is an example of a fixed expense?

• gas for the car

• when you buy clothes for school

• school supplies

• car payment

What is an example of a variable expense?

• insurance payment

• food expense

• home payment

• car payment

Sam sells tacos in a food truck. He spent $45.69 on the ingredients for the tacos. After selling the tacos, he made $150.00. What was the profit Sam earned?

• $105.51

• $105. 49

• $104.69

• $104.31