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WorksheetsPersonal Finance Vocab Review
Total questions: 10
Worksheet time: 6mins
Which describes the total of a person’s earnings when they get a job?
credit
income
investment
savings
Which is a plan for saving and spending?
budget
checking account
savings account
will
What type of bank account is most linked to spending?
checking
investment
mutual funds
savings
Using credit is most like which of the following?
keeping cash hidden in your closet
spending money from your piggy bank
using “birthday money” to make a purchase
borrowing money from a stranger with a promise to pay back more than you borrowed
What is the difference between income and expenses?
Income is money that is earned, while expenses are spending money
Income is saving money, while expenses are investing money
Income is spending money, while expenses are earning money.
Income is earning money, while expenses are saving money.
What is credit?
A person saves money to use in the future for large purchases.
A person buys something and pays for it later.
A person invests money in new companies.
A person keeps track of their expenses
Why is saving money an important thing to do?
To prevent using credit
To have money for future goal or emergency
To brag about how much money you have
To improve your credit
Personal Loans, mortgages, and credit cards are examples of credit
True
False
You don't need to worry about tracking expenses because banks do overdraft protection
True
False
Budgets are used to plan how your money will be used on
bills
savings
monthly expenses
all of the above
