Credit and Saving

Each purchase is a loan that is paid later

• Credit

• Debit

• Both

You are charged interest on purchases

• credit card

• debit card

• both

Money is automatically taken out of a checking or savings account

• Credit Card

• Debit Card

• Both

May cause unnecessary debt

• Credit Card

• Debit Card

• Both

YOur dad takes the car to be inspected. Your dad pays with a card. The payment for the inspections shows up on his monthly bill for the card.

• Credit card

• debit card

• both

You can have overdraft fees

• credit card

• debit card

• both

Your family is on vacation and you need more cash. Your dad goes to the ATM and gets a $500 cash advance. He says, "just one more vacation expense we'll have to pay off when we get home."

• Credit card

• debit card

• both

Which of the following is generally the most expensive category in a person’s budget?

• Healthcare

• Clothing

• Transportation

• Housing

The money you earn through working is ___

• input

• net worth

• Income

Preparing a budget includes

• Income, Expenses, Saving
• Only listing your expenses
• Only listing your debts
• Only listing your income