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Worksheets#PF1.Q3 Banzai Jr Personal Finance Unit review
Total questions: 22
Worksheet time: 11mins
_________ is money you earn from work you do.
SYNONYMS
earnings, salary, pay, wage
outcome
income
debit
_________ is money you earn from work you do.
SYNONYMS
earnings, salary, pay, wage
outcome
income
debit
Name an example of income
Your allowance
Birthday money
Money you make from a job
All of the above
_______________ are what you spend money on.
SYNONYMS
cost, expenditures, bills
expenses
credits
savings
money jars
How much money is this in coins?
27 ¢
85 ¢
75 ¢
87 ¢
Money borrowed from someone else with the expectation of paying it back.
SYNONYMS
credit, advance
cash
borrow
loan
jar
The amount owed on a loan.
SYNONYMS
bill, accounts, tab, arrears
debt
debit
income
expenses
An important expense for your job.
SYNONYMS
business costs, bills, operating costs
income
credits
business income
business expense
What is the best way to pay for business expenses?
Taking a loan from your parents
Using your allowance money
Using money made from your business
Using supplies from your mom's pantry
_______________ is an amount charged for borrowing money, or, paid to you for lending it.
SYNONYMS
dividends, return
interest
debit
debt
income
By issuing a ____________ to your bank, you turn your cash over for safe-keeping.
SYNONYMS
payment, bank, store away
withdrawal
deposit
expense
income
What is interest?
Money the bank pays you to keep your money in your savings account.
Something you like to do after school.
The amount you pay the bank to open your savings account.
A business expense.
Why should you open a savings account?
To save for more expensive items or goals.
To keep money safe for emergencies
To see your money grow with interest added over time
All of the above
A percentage added to the sale of goods you buy.
SYNONYMS
value-added tax
sales tax
fees
debt
income
What happens if you don't have enough to pay for something at the store?
No worries; the cashier won't mind!
You'll have to put something back on the shelves.
You can come back and pay the next time you go shopping.
You should put everything back.
What is sales tax?
What you pay your state government when you buy things.
The change the cashier gives you once you've paid.
The money you have left over after shopping.
Someone who sells a product.
SYNONYMS
retailer, dealer, seller
teacher
cashier
vendor
bus driver
Giving someone money that needs to be paid back later.
SYNONYMS
loaning, advancing, borrowing
spending
lending
taking
debiting
Which of these could be considered a financial emergency?
The ice cream truck is coming and you really, really want an ice cream sandwich.
You forgot you were supposed to pay your parents' IOU and they're asking for their money back.
You've broken your arm playing baseball and can't run your lemonade stand.
The release date of your favorite video game.
What's the best way to pay for an emergency purchase?
Take money out of your savings account, even if it sets you back from your goals.
Ask your parents to chip in. What's another IOU?
Just ignore the emergency. It's go away on its own.
Get another job, quick!
Which of these is true about a withdrawal?
It takes money out of your savings account.
It closes your savings account completely. Back to using a piggy bank.
It increases your account balance.
It costs $5 to withdraw money from your savings account.
How much money do I have?
65 cents
30 cents
85 cents
25 cents
