Personal Finance/Budgeting

What are three 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, it is okay to use only a portion of your money.

• True

• False

A ____ 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 checks 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