Personal Money Management 2022

The money that you receive for mowing the lawn, babysitting or making good grades is called__________. 

• income 
• credit 
• debt 
• interest 

The bank agreed to loan me the money that I needed to start my new business. My ability to borrow this money is known as what? 

• interest 
• budget 
• debt 
• credit 

I have been setting aside $100 a month for my children to have money to go to college. This idea is known as what? 

• savings 
• credit 
• income 
• debt 

What is income?

• Money earned by a worker in a year

• Money spent

• Money set aside for future use

• Using money in hopes of gaining more in the future

What is saving?

• Amont of money used for purchasing items

• Setting aside money for future use

• Amount of money a worker earns

• Amount of money spent in a day

Every month after my parents pay all of the family’s bills they set aside a little bit of money for the family to do fun things like go to the movies, bowling and even go to amusement parks.
My family uses a _____________

• income 
• debt 
• interest 
• budget 

The total amount of money earned before payroll withholdings

• net pay
• gross pay
• payroll deductions
• none of these

Also known as take home pay, this is the amount left after all payroll deductions have been taken from the gross income

• gross pay
• withholdings
• net pay
• real pay

What is investing?

• Spending money on anything you want

• Saving money constantly

• using money in hopes of gaining more in the future by lending to businesses in exchange for a share of profits

• Setting aside money for future use

The process of projecting, organizing, monitoring, and controlling future income and expenses is known as ________________.

• Budgeting

• Investing

• Personal Finance

• Money Management