Money Management

The money that you receive for working is called__________.

• Income

• Credit

• Debt

• Interest

If you are buying groceries at the store and want to use the money in your bank account, you should pay with ______

• Cash

• Gift card

• Debit card

• Credit card

It's important to spend money on things you need before spending money on things you want:

• True

• False

Owing money to another individual or business or the amount of money borrowed

• Budget

• Income

• Debt

A checking account is

• An account where money can easily be deposited and withdrawn by means of checks or debit cards.
• An interest bearing account where your deposit remains for a set period of time
• A computer that checks your email account
• All of the above choices

My cousin wanted to borrow $300 from me. I loaned him the money but I told him that he would have to pay me back $330. The money that was paid back to me on top of the loan is known as_________. 

• credit 
• interest 
• savings 
• debt 

Which of the following Is NOT part of writing a check?

• Date

• Signature

• Who you are paying

• The address of the person you are paying.

Which of the following is a rule for writing a check?

• Write the check in pencil

• Leave the memo blank

• Write the check in pen

What is wrong with this check?

• They didn't write who they are paying.

• The date isn't written correctly.

• The money amount written in words and dollars is not the same.

What 2 items are wrong with this check?

(2 answers)

• They did not draw the line at the end of the money amount.

• They didn't initial the mistake.

• The check was not signed.

• The memo is wrong.