PFHS 3.02 Financial Literacy

Front

Category for a new car, designer clothes, and gaming systems? Options: wants, needs, values, income

Back

wants

Front

Why is saving important?

Back

because the future is unpredictable

Front

Which characteristic of being a wise consumer did Sarah violate when she yelled at the salesperson after her phone broke?

Back

complain effectively and refuse poor equipment

Front

The amount Greg received in his paycheck after regular deductions is referred to as:

Back

net income

Front

What is the probable cause of the difference between the amount owed on a credit card bill and the cost of purchased items?

Back

interest

Front

What type of income was Sally quoted to earn if the salary does not have deductions taken out?

Back

gross income

Front

Samantha is looking for an institution for her money management. She is looking for an account that pays interest on deposits, does not have check writing privileges, and has easy withdrawal access on demand. Which type of account would be best for Samantha? Options: checking account, certificate of deposit, savings account, mortgage.

Back

savings account

Front

Money earned from saving accounts and investments is an example of:

a spending plan

,

income

,

expenses

,

a saving account

Back

income

Front

Fundamental beliefs or practices of personal importance should be placed in which category? Options: wants, needs, values, income

Back

values

Front

What tool could newlyweds use to keep track of where their money is going?

Back

spending plan