Personal Finance

 

Which of the following terms mean the amount of money earned?

• Bill

• Income

• Debt

• Credit

Which terms does NOT refer to the money you earn?

• Income

• Wage

• Salary

• Expenditure

True or False: You should put your wants into your budget before adding your needs.

• True

• False

TRUE or FALSE? It is a good idea to plan for your savings before you add any other items into your budget.

• True

• False

Which of the following is a spending plan for your money?

• Savings

• Deposit

• Budget

• Investment

There are costs associated with using credit. Which of these is an example of this cost?

• Interest

• Insurance

• Extra Taxes

Joselyn got $20 for her birthday. She takes it to the bank and puts it in her account. What is she doing?

• Saving

• Budgeting

• Spending

• Paying Interest

Which would be the best choice for a credit card?

• One with a high annual fee and a high interest rate

• One with no annual fee and a high interest rate

• One with a high annual fee and a low interest rate

• One with no annual fee and a low interest rate

Which of the following is generally better for your personal finances?

• Paying a bank interest on a loan

• A bank paying you interest on money in your account

• Borrowing a lot of money for a car

• Putting money in your piggy bank

 

Which of the following terms are not types of income?

• Wage

• Salary

• Interest