Life Skills - Final (Money/Budgeting

 What are the blank sections on a check? 

​ ​ ​ ​ ​ ​ (a)   ​ (b)   ​ (c)   ​ (d)   ​ (e)  

• Pay To Section
• Dollar Section in Words & Amount Box
• Memo
• Signature Line
• Check Number
• Date

What is the purpose of a bank statement?

• To collect paper

• To Summarize monthly transactions (Deposits and Withdrawals)

• To Show deposits ONLY

• To Show Withdrawals ONLY

What is a transaction?

• Exchange of Goods

• Exchange of Services

• An exchange of money between a buyer and a seller to exchange goods and services.

• A debit card

What are the two key items you need to use an ATM? Select all that apply.

• Wallet

• Debit Card

• Purse

• Pin Number

What are examples of different types of expenses? Put in the correct categories.

Groups:

(a) Non-Recurring/Random/Whammies

,

(b) Recurring/Monthly

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What are examples of Day to Day Expenses vs. Recurring Expenses?​ ​ (a)   ​ (b)   ​ (c)   ​ (d)  

• Paper Towels
• Laundry Detergent
• Gas
• Groceries
• A Car Repair

A fixed and recurring expense happens ______, typically on a certain day or date and for a certain amount.

(a)  

• monthly
• randomly
• never
• every day

Necessities like electricity, gas, and water, which are paid monthly as part of your household expenses.

• utilities

• options

• electables

• utilitable expenses

Anything that you spend money on.

• income

• expense

• deposit

• withdrawal

Paying rent is a......

• return

• need

• want

• risk