Personal Finance CA#1

What is a loan to buy a house called?

• A credit card

• A mortgage

• Interest

• Savings

Which term describes the total of a person's earnings from a job?

• Invest

• Credit

• Savings

• Income

What is a budget?

• A plan for saving and spending

• A loan

• A loan to buy a home.

• Keeping cash in a closet.

A debit card is linked to your _____account.

• Budget

• Checking

• Savings

• Credit card

Buying something now and paying for it later.

• Income

• Budget

• Savings

• Credit

What is interest?

• Money that is earned for doing work.

• Money that is paid by the bank to the account holder for money being saved.

• Money that is borrowed from the bank and used to make big purchases.

• Money that is charged to an account holder when he or she uses more money than is in the bank account.

What is credit?

• A person saves money to use in the future for large purchases.

• A person keeps track of their expenses.

• A person buys something and pays for it later.

• A person invests money in new companies.

How do you increase your credit score?

• Pay your credit card on time and pay off the money owed.

• Pay the bill late.

• Pay only the minimum payment due.

• Just keep shopping and worry about paying for it whenever.

You get $250 for getting all A's in school. What is the best use of the money that will make your money make more money?

• Spend it at the mall

• Buy some video games

• Deposit some of the money in a savings account.

• Ask the bank for a loan or credit card.

What is a stock?

• Saving money at the bank

• A share in a company

• Investing in your education

• Withdrawing money from your account