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WorksheetsConsumers and Money Management
Total questions: 20
Worksheet time: 10mins
What is an expense?
Money earned by a worker
Money spent
Benefits from a job
Money saved
What is income?
Money earned by a worker in a year
Money spent
Money set aside for future use
Using money in hopes of gaining more in the future
The money that you receive for mowing the lawn, babysitting or getting an allowance is called__________.
Income
Credit
Debt
Interest
Which of the following is NOT true about the difference between credit cards and debit cards?
Purchases made with a debit card come directly out of your bank account
You must pay off your credit card bill monthly or there will be penalties
You must have a bank/checking account to use a debit card
Credit cards use money from your savings account
A bank account where money is stored and earns a low interest rate.
A bank account where a depositor can write checks.
A bill that comes the same time each month and doesn't change in amount is what type of expense?
Variable
Fixed
Flexible
Expenses that change each month or are based on usage of a utility are called
Bills
Flatulent expenses
Flexible expenses
Unpredictable bills
An advertisement that uses a celebrity or famous athlete is called
An image ad
A shameless plug
A great deal for the celeb
An endorsement
An example of a product character is
Jake from State Farm
Ronald McDonald
The gecko from Geico
All of the above
You should always endorse your checks in red ink
True
False
Checks or transactions that have not cleared are called
Unpaid
Deductions
Outstanding
Trouble
A check that has cleared can still bounce
True
False
Goods are
Products manufactured for business
The opposite of bads
Products manufactured for sale
Things people want to buy
When you earn or receive money you should
Spend it right away
Pay yourself first and save at least ten per cent
Give it to charity
Buy your Mom a nice gift
