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Budgeting Quiz

Total questions: 22

Worksheet time: 11mins

Name
Class
Date
1.

How many of you have a credit card/debit card/bank account?

a)

Yes

b)

No

c)

I have no idea what you're talking about

2.

How many people know how much money they have? (bank account/cash/etc)

a)

Yes

b)

No

c)

I don't have a bank account

3.

Do you budget your money?

a)

Yes

b)

No

4.

What do you spend MOST of your money on?

a)

Food

b)

Clothes

c)

Video Games

d)

Other

5.

Teens spend most of their money on what?

a)

Video Games

b)

Clothes

c)

Food

6.

Account held at a financial institution that allows for withdrawals and deposits

a)

Net montly income

b)

Checking Account

c)

Savings Account

d)

Both savings and checking

7.

The amount DEDUCTED from your bank account is called...

a)

Interest rate

b)

Credit

c)

Debit

d)

Credit Card

8.

A term for balancing your spending and your income

a)

Gross Annual Income

b)

Budgeting

c)

Net Monthly Income

d)

A bank

9.

ADDING an amount to your account is called?

a)

Checking Account

b)

Savings Account

c)

Credit (deposit)

d)

Calculating

10.

What bank account receives a small amount of interest based off amount in account?

a)

Checking Account

b)

Savings Account

11.

This is a percentage ADDED to your total. Can be a good or bad thing

a)

Savings Account

b)

Interest Rate

c)

Interest

d)

Checking Account

12.

This is how much you make each MONTH BEFORE taxes

a)

Gross Annual Income

b)

Net Monthly Income

c)

Gross Monthly Income

d)

What?

13.

This is the health insurance program for people who are 65 or older

a)

Federal Income Tax

b)

Social Security

c)

Net Monthly Income

d)

Medicare

14.

A card you use that buys now, pays now

a)

Credit Card

b)

Debit Card

15.

How much you make each YEAR BEFORE taxes

a)

Gross Annual income

b)

Net Monthly Income

c)

Gross Monthly Income

d)

Social Security

16.

Portion of one's personal income paid to the government

a)

Social security

b)

Net Monthly Income

c)

Medicare

d)

Federal Income Tax

17.

How much you make each MONTH AFTER taxes

a)

Gross Annual Income

b)

Net Monthly Income

c)

Gross Monthly Income

d)

Social Security

18.

Program that provides benefits to retired people OR people living with disabilities

a)

Federal income Tax

b)

Social Security

c)

Gross Annual income

d)

Medicare

19.

High-priority necessities that are generally paid off first

a)

Primary expenses

b)

Secondary expenses

20.

A loan to finance the purchase of your new home

a)

Home insurance

b)

Mortgage

21.

Why is it important to set budget guidelines (how much you spend each month on certain categories)?

a)

Because we are told to

b)

To ensure we don't over spend and we are able to save

c)

I don't need guidelines

22.

BONUS: How is Mrs. Schoville a volunteer teacher at PVJH?

a)

She's just really nice

b)

Her parents are rich

c)

She made it big in the stock market

d)

These are her service hours from college