Coles Financial Literacy

You lend your crayons to a friend who forgot theirs. They break several of them. Is this a COST or BENEFIT?

• COST

• BENEFIT

Which situation describes a bank deposit?

• Belinda needs to pay her rent. She goes to the bank and gets some money.

• Marlene's mom stops at an ATM machine. She uses her ATM bank card to get some money.

• Oscar has $55. He does not want to lose the money, so he goes to the bank to open a savings account.

Tags

2.11.C

Which statement does NOT describe a withdrawal from a bank account?

• Using $30 from your savings account to buy a sweater.

• Putting the money from your paycheck into your checking account.

• Getting money from your account using an ATM machine

Tags

2.11.C

Which situation is an example of borrowing?

• Aunt Celia gives Anthony an envelope with money for his birthday.

• David and Julian put their money together to buy a bicycle they will share.

• Loretta asks her sister for money to buy a magazine and says she will pay her back later.

Tags

2.11.D

Which situation is an example of lending?

• Danielle takes a $10 bill from her savings box and puts it in a birthday card for her brother.

• Victor is selling shirts for his team. His customers will pay him when he gives them the shirts.

• Letty will use her money to help Mariah pay for a necklace if Mariah pays her back later.

Tags

2.11.E

Sabrina wants to buy some new shoes. Sabrina has some money saved but it is not enough to buy the shoes. Which statement describes the best way for Sabrina to save enough money to buy the shoes?

• Spend all of her allowance each week on games and toys

• Save the money her mom gives her for doing her chores each week

• Give all her money to her brother to spend on candy

Tags

2.11.B

In February, Henry had $35 in his savings. In March he had $20 in his savings. Does this show that Henry spent money or saved money?

• spent money

• saved money

Tags

2.11.B