Money related terminology

When related to money, the meaning of credit is...

• Being given money for free to spend on what you want to.

• Borrowing money from an organisation to help pay for an item or service

• Paying for something with cash you've taken from your bank account.

What is a credit score?

• A type of currency used for online transactions
• The amount of money a person owes to the bank
• A rating/score given to indicate to a bank or lender how likely it is that you'll be able to pay money back.

• The number of credit cards a person has in their wallet.

When referring to money, what does the word "interest" mean?

• Either money a bank adds to your savings, or the amount you pay back on top of money you've borrowed, over time

• Having an interest in fashion and spending your money on clothes

• The amount of money in a bank account

What does the term 'savings account' imply?

• A type of bank account that charges you a fee for storing your money.

• An account where you can keep your money to earn interest over time.

• A special account used only for purchasing stocks and bonds.

What does 'budgeting' mean?

• Spending as much money as possible in a short period.

• Investing large sums of money into stocks.

• Planning how to allocate your finances to cover various expenses.

Tick the box where ALL tax terms mentioned are correct...

• Income Tax

  Council Tax

  Online gaming Tax

• VAT (Value Added Tax)

  Car Tax

  Education Tax

  Music and Sport Tax

• VAT (Value Added Tax)

  Council Tax

  Car Tax

  Stamp Duty