Financial Literacy (1)

Deciding how to spend your money before you actually spend it.

• Balance

• Copay

• Checking account

• Budget

When you put money into a bank account for safe keeping, you are making a ...

• deposit

• withdrawal

• expenses

The amount of money that you have in your bank account is known as a ...

• deposit

• balance

• withdrawal

A video game is a

• Need

• Want

A home

• Want

• Need

money earned or received

• Expenses
• Income
• Deductions
• Check

a card that can be used to borrow money from financial institutions,

• debit card
• credit card
• check card
• cash card

a bankcard linked to an individual’s checking account 

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

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.

Mrs. Fanning bought a science kit at the store for $10. At the register, she was charged $10.85. The different between the price and what Mrs. Fanning paid is considered -

• income tax

• credit

• sales tax

• property tax