Financial Literacy

Which is an example of a fixed expense?

• groceries

• electric bill

• rent

• gasoline

Which of the following will a bank provide?

• Keep your money safe
• Pay your bills
• Put money into your account
• Balance your checkbook

Tags

CCSS.6.NS.C.7C

Typically, loans are needed when someone wants to buy a _______ or a _________.

• car or house

• dog or cat

• Nintendo Switch or PS4

• Lego set or train set

Tags

CCSS.RI.4.2

CCSS.RL.3.2

CCSS.RL.4.1

CCSS.RL.5.1

CCSS.RL.5.2

What are the two types of bank accounts?

• checking and saving

• saving and spending

• checking and spending

An example of a variable expense is

• car insurance

• house payment

• rent

• water bill

Why do most people deposit some or all of their money in banks?

• The teller in the bank is their friend.

• Federal law states that extra money must be deposited at banks.

• They want to be friends with the bank manager.

• They want to keep their money in a safe place.

Tags

CCSS.RI.3.2

CCSS.RI.4.2

CCSS.RI.5.2

CCSS.RL.3.2

CCSS.RL.4.2

Which one of the following statements is true about banks?

• Banks lend money to people, and people pay back the money with interest.

• Banks make profit by printing their own bills.

• Banks take money from people and never return it.

• Banks will only allow you to open an account if you know their manager.

The amount of money left after all expenses are subtracted from the money received is called...

• cash

• profit

• expenses

• income

Tags

CCSS.7.RP.A.3

Why is a budget important?

• It helps you spend all of your money

• It helps you donate all of your money

• It helps you buy a brand new boat

• It helps you to stay organized for planning and saving your money

If you want to keep money safe and use it at another time. What account should you use?

• Profit

• Savings

• Checking

• Shoe box