Financial Literacy Unit One Review- Vocab

To manage your money wisely you must balance your________.

• wants and needs.

• goals and expectations.

• bills and purchases

• spoon on your nose.

A budget is a spending plan that can help you____________.

• borrow money.

• pay in three easy payments.

• manage your money better.

• eliminate pests from your home and garden.

Cash sent through the mail can be_________.

• Lost

• Stolen

• Given to charity

• Used to buy a pet.

An example of a necessary expense is __________.

• Rent

• Groceries

• Medication

• McDonalds

A bank statement shows you____________.

• Monthly earnings.

• Check stubs.

• Account activities.

• Recent withdrawls

Frugal means_______.

• Thrifty

• Fancy

• Reddish

• Spooky

Is a computer a need or want?

• need

• want

• depends on your individual situation

A need is something we can't live without.

• True

• False

Which items should you pay for before buying something you want?

• rent

• utilities

• groceries

• all of the above

Which of the following described a bank statement?

• It is a summary of all deposits made each month.

• it is a summary of all the withdraws made each month.

• It is a summary of the interest earned each month

• All of the above