Personal Money Management Vocabulary

Read the definition. Then choose the vocabulary term Defined.

to give up something, especially for something considered more important

• A sacrifice

• Interest

• Goal

• Budget

Read the definition. Then choose the vocabulary term Defined.

a system of money in use in a particular country

• Barter

• Scarcity

• Resource

• Currency

Choose the correct definition of debit card.

• A a card that enables a bank to pay for a good or

  service using the buyer’s money

• B a card that enables a bank to pay for a good or

  service, and the buyer must repay the bank in the

  future

Choose the correct definition of budget.

• A. a tool for planning and keeping track of how much

  money is saved and how much is spent

• B. a tool for increasing income and costs

• C. a tool for making decisions about jobs or careers

• D. a tool for finding more resources to produce goods

Choose the correct word or phrase to complete the dictionary entry.

balanced - describes a budget in which the income is equal to or ________

than the expenses

• Greater

• Lesser

Read the definition. Then choose the vocabulary term Defined.

a signed document that tells a bank to pay the recipient a specified amount from the signer's bank account

• Currency

• Credit

• Cash

• Check

Read the definition. Then choose the vocabulary term Defined.

a card that enables a bank to pay for a good or service,

and the buyer must repay the bank in the future

• Prepaid card

• Credit card

• Debit card

Choose the correct definition of income.

• Money that is lost from economic choices

• Money that is given to charity

• Money that is earned from work or investments

• Money that is paid for goods and services

Read the definition. Then choose the vocabulary term Defined.

to give up one thing to get something else

• Limit

• Scarcity

• Trade-off

Choose the correct definition of interest.

• Money paid for taxes

• Money paid for raw materials

• Money paid for the use of someone else’s money

• Money paid for the purchase of a good