Money Smarts a Guide to Financial Literacy: Part 1

What does it mean to acquire money?

• Earning Money.

• Giving away money.

• To take out a loan .

• To go in debt.

What are the three type of Bank Account?

• Checking

• Saving

• Certificate of Deposits

• Automatic Draft

Banks are in business to make money.

• True

• False

The definition of a NEED is

• Something that is not necessary for survival, but you would like to have it.

• Something that is necessary for survival.

• Something that someone else things you should have.

• Something someone else has, and you think you should have it too.

What is the term for the percent cost that banks charge customers for borrowing money?

• Dislike

• Interest

• Loan

• Fee

List 3 good spending tips

A Checking account is

• An account which comes with checks and an ATM card to make purchases and pay bills

• An account which money is usually kept where it grows the longer it stays.

• An account sold by the bank that earns more money the longer it stays. Has to stay for specific amount of time

What is a Saving Account?

• An account sold by the bank that earns more money the longer it stays. Has to stay for specific amount of time.

• An account which money is usually kept where it grows the longer it stays

• An account which comes with checks and an ATM card to make purchases and pay bills

What is a certificate of deposit?

• An account which money is usually kept where it grows the longer it stays.

• An account which comes with checks and an ATM card to make purchases and pay bills

• An account sold by the bank that earns more money the longer it stays. Has to stay for specific amount of time.

Which is the CONSUMER in the picture?

• The woman in the red apron

• The woman carrying the basket