Personal Finance

What are 3 ways to use money?

A ____ is a written plan that outlines how money should be used.

• net worth statement

• income sheet

• budget

• money allocations sheet

In a budget, is it okay to use only a portion of your money?

• True

• False

The ____ is a business or institution for receiving, keeping, and lending money.

• budget

• lender

• bank

What is the purpose of a bank?

• To give out loans to people buying a house.

• To hold money for people.

• To have as many people with checking accounts as possible.

• To make money.

An account that allows a person to write a check from their account to pay for goods or services.

• Investment Account

• Checking Account

• Money Market Account

• Savings Account

An account that offers a convenient way to save money.

• Investment Account

• Checking Account

• Money Market Account

• Savings Account

Check all the ways a person can spend money from their checking account.

• cash

• debit card

• check

• credit card

Placing money into an account is called a ____.

• withdrawal

• deposit

• income

• expense

Taking money out of an account is called a _____.

• withdrawal

• deposit

• income

• expense