Financial Readiness Quiz

The money we earn

• Fixed expenses

• Income

• Debt

• Credit card

The essentials for daily living such as food or shelter.

• Fixed Expenses

• Groceries

• Income

• Needs

Regular and predictable expenses that are consistent from month to month.

• Variable Expenses

• Groceries

• Fixed Expenses

• Rent

The act of adding money to a bank account, therefore increasing the amount.

• Income

• Money

• Deposit

• Mr. Crabs

The extras in life, The things that aren't necessary for survival.

(a)  

Written ORDERS from an account holder to their bank to pay a specific amount of money to the person or business named.

• Check

• Checks

• Loan

• Debit Card

An amount of money borrowed from a lender with an agreement to pay it back, usually with some type of interest.

(a)  

Credit Card:

• A record log where all transactions are recorded

• A payment card that deducts money directly from a linked checking account when used for transactions

• Sum of money borrowed from a lender with agreement to pay it back

• A plastic card that allows you to borrow money up to a certain limit to make purchases

A payment card that deducts money directly from a linked checking account for transactions

(a)  

Budget

• Expenses that are flexible and not needed for survival.

• A plan to help spend money wisely

• The money we earn

• The act of taking money out of a bank account