Money Skills Unit Test (Modified)

Something NOT required for your safety, well being or success in life, but MIGHT make your life better.

• Need
• Want

Who pays taxes?

• Only businesses that have income or make money.
• Businesses and people that have income or make money.

Something REQUIRED for your safety, well being or success in life.

• Need
• Want

The amount of money you receive in your paycheck after all deductions have been taken out, also called your "TAKE HOME" pay.

• Net pay
• Gross pay

Things or ideas you view as important to your life and the world.

• Core values
• Personality

Things you have to pay for, also called "bills".

• Income
• Expenses

Any money that comes to you or you earn.

• Income
• Expenses

When you borrow money from a bank you will need to pay it back plus some extra money called ____.

• credit
• interest

If I do NOT have my ______ met something bad may happen in my life.

• wants
• needs

An account is where you keep money to pay bills with or spend.

• Savings Account
• Checking Account