Financial Literacy

Which one of the following are financial institutions?

• bank and credit union
• library and hospital
• school and museum
• Starbucks and Wal-Mart

money earned or received

• Expenses
• Income
• Deductions
• Check

Money paid to the government

• Budget
• Fees
• Taxes
• Food stamps

a bankcard linked to an individual’s checking account 

• debit card
• credit card
• check card
• electronic card

My house payment is the same every single month. This is an an example of a....

• profit
• variable expense
• fixed expense

Car payment

• Fixed
• Variable

New pair of shoes

• variable
• fixed

Which of the following is an advantage of using a credit card?

• Interest is charged for the use of a credit card.

• Consumers can purchase things now, and pay for them later in the event of an emergency.

• You could be a victim of identity theft.

Which of the following is considered an advantage to using a debit card to make purchases?

• Debit cards are convenient and easy to carry around.
• Purchases can be made quickly and easily.
• You can use many ATMs to get cash.
• All of the above.

Something that you pay is called....

• income
• an expense
• a profit
• savings