Budgeting Post Test

A sum of money to be used for a particular purpose.

• debit card

• credit card

• budget

A card that lets you buy goods and services based on a promise to pay later.

• debit card

• credit card

• budget

A card that lets you take money directly from your bank account.

• debit card

• credit card

• budget

An amount of money placed into a savings or checking account.

• withdrawal

• deposit

• statement

A document published by your bank or credit union that details all transactions for the month.

• cleared check

• withdrawal

• statement

Spending more than you have is called...

• Asset

• Debt

• Withdrawal

A fee for overspending...

• Overdraft

• Service

• Tax

An account where money is stored and returns a

low-interest rate.

• Checking

• Debit

• Savings

An account where the depositor can write checks.

• Checking

• Debit

• Savings

Why does your employer withhold money from you on each paycheck?

• To pay personal expenses.

• To pay federal and state taxes.

• To pay utility costs.