Personal Finance Final Review #1

Why do we have to make choices when spending money?

• We have too much money to spend.

• We cannot have everything we want.

• We do not want to miss out on anything.

A plan for how to manage your money is called a ?

• income

• budget

• investment

What is income?

• the amount you spent

• the amount you don't save

• money that you earn

money earned is called

• income
• purchase
• spend

paying for something with money that is borrowed and must be paid back, usually with interest

• credit
• income
• salary

A card that borrows money but it has to be paid back

• Debit Card 
• Credit Card 
• Baseball Card 
• Pokemon Card 

A card that uses money directly from your bank account

• Debit Card 
• Credit Card 
• Pokemon Card 
• Baseball Card 

An account attached to a debit card

• Checking Account

• Savings Account

• CD Account

• LR Account

Which best describes an investor’s primary goal?

• to earn a profit

• to lose money

Interest is the additional charge you get for borrowing money

• True

• False