Personal and Financial Literacy Semester Test

An estimation of your income and expenses. It allows you to track and plan how you will spend your money. 

• Credit

• Debt

• Budget

• Savings Account

• Investing

Expend money with the expectation of achieving a profit or material result by putting it into financial plans, shares, or property, or by using it to develop a commercial venture.

• Credit

• Debt

• Budget

• Savings Account

• Investing

What's given when a lender grants a borrower money in exchange for later payment.

• Credit

• Debt

• Budget

• Savings Account

• Investing

Is an account at a bank or credit union where you can deposit funds and earn a small amount of interest.

• Credit

• Debt

• Budget

• Savings Account

• Investing

This is money that's borrowed that needs to be paid back.

• Credit

• Debt

• Budget

• Savings Account

• Investing

An abundance of valuable possessions or money

• Wealth

• Expenses

• Mortgage

• Emergency Fund

• Income

This is a loan granted to purchase a piece of property where the lender charges interest and can take the title to the property if payments are not made.

• Wealth

• Expenses

• Mortgage

• Emergency Fund

• Income

What you spend money on, could include common household bills, credit card payments, groceries and anything else that costs.

• Wealth

• Expenses

• Mortgage

• Emergency Fund

• Income

The money you bring in on a regular basis through your job, investments or other source.

• Wealth

• Expenses

• Mortgage

• Emergency Fund

• Income

This is money that's set aside for use in case of an emergency. Depending on how much you have saved, could cover long-term expenses if you lose your job or with short-term unexpected events such as a car repair.

• Wealth

• Expenses

• Mortgage

• Emergency Fund

• Income