Money Management 101

The ability to understand how money is made, saved and managed is called

• Taxes

• Budgeting

• Financial Literacy

• Money Management

If you wish to manage your money better, the first place is start is with

• tracking your spending

• setting a budget

• looking at your paycheck

• taking donations

What is it called when your employer issues an electronic payment which is deposited directly into your bank account

• cash advancement

• Pay check

• E-payment

• Direct Deposit

According to the saving tip (from the video), If you were paid $300, how much would you put in savings?

• $30

• $3

• $15

• $100

Which of the following is NOT a characteristic of a savings account?

• Saving for long term goals

• ATM Withdrawals

• Typically earns more interest

• limited access

Which of the following is NOT a characteristic of a checking account?

• Easy Access

• ATM Withdrawals

• limited access so you won't be tempted

• Debit Card

Which one of these things should you be aware of when opening a credit card?

• Must pay 10% for every purchase

• Must track spending for a year

• Must be 25 to open credit card

• High interest rates make paying down difficult