Personal Finance Retake

What does creating and following a personal budget help people do?

• 1. get a lower tax rate

• 1. earn government benefits

• earn more money at work

• 1. save money for emergencies

A plan for spending & saving income over a specific period of time

• Budget

• Commission

• Interest

• Credit

Saving money for your 15-year-olds college education

• Long-term goal

• Short-term goal

• Mid-term goal

Saving for your 7-year-olds college education

• Long-term goal

• Short-term goal

• Mid-term goal

Saving for a camping trip next summer

• Long-term goal

• Short-term goal

• Mid-term goal

When I do not have enough money to buy a car I can go to the bank and get a ____

• Loan

• Budget

• Savings Account

• Credit Card

When using credit I am paying immediately

• True

• False

When I use debit I pay immediately

• True

• False

What is an income?

• Money earned from a job or gained from investments

• A credit card

• A debit card

What are the benefits of saving?