Money Management Mid-Review

Money is withdrawn directly from a checking or savings account. What type of card is this?

• Credit Card

• Debit Card

• Credit Card & Debit Card

Consumers can purchase items now and pay for them later. What type of card is this?

• Credit Card

• Debit Card

• Credit Card & Debit Card

Each purchase is a loan that is repaid later. What type of card is this?

• Credit Card

• Debit Card

• Credit Card & Debit Card

What is income?

• Money earned by a worker in a year

• Money spent

• Money set aside for future use

• Using money in hopes of gaining more in the future

What is saving?

• Amont of money used for purchasing items

• Setting aside money for future use

• Amount of money a worker earns

• Amount of money spent in a day

My cousin wanted to borrow $300 from me. I loaned him the money but I told him that he would have to pay me back $330. The money that was paid back to me on top of the loan is known as_________. 

• credit 
• interest 
• savings 
• debt 

A service that is provided like water, gas, and electricity.

• ATM
• Subscription
• Rent
• Utilities

Which type of card is allowing the individual to spend their OWN money?

• credit card

• debit card

If you have a debit card, which type of account would you also need to have at a bank?

• savings account

• checking account

It's important to save for the following reasons:

• To meet long term and short term goals

• To build wealth

• To protect against unexpected crisis (emergency, loss of job)

• All of the above