Worksheets8th Grade Financial Management
Total questions: 18
Worksheet time: 9mins
The following shows part of Mr Jason’s financial management process.
To save for emergency fund
To buy a laptop
To buy a terrace house in 10 years by paying RM60 000 as a down payment.
What step in the financial management process did Mr Jason take?
Evaluating financial status
Setting financial goals
Carrying out financial plan
Creating a financial plan
Long term financial plan usually exceed
10 years
20 years
5 years
15 years
The process of budgeting, saving, investing, spending or otherwise supervising the use of money by an individual or group is ...
Money Management
Savings Account
Checking Account
Investment
A bank account where you can store money you don't need right away but keep it easily available and safe. You usually earn interest on this type of account.
Checking Account
FICO score
Credit
Savings account
Deciding how to spend your money before you actually spend it.
Account
Balance
Budget
Cash
Money earned through work.
withdrawal
expense
deposit
income
an amount of money parents regularly give children
allowance
candy
spend
Why is it important to save money?
Saving for a goal or something special in the future
Because your parents say so
So you can spend it faster
Its not a good idea to save money
You are responsible for your financial well-being
True
False
What is another word for currency?
money
paper
candy
bank
What would happen if your expenses are greater than your income?
You would be rich
You would be in debt
You could loan people money
You could save more oney
What is debt?
Money you owe
money you earn
Taxed money
money you invest
In what area of a typical family budget do people spend most of their money?
food
transportation
utilities
housing
An example of a financial institution is:
a department store
a bank
a credit union
a bank and a credit union
Anything that you spend money on.
income
expense
deposit
withdrawal
Putting Money Away for Later *
Savings
Net Pay
Loan
Interest
What is emergency savings?
Transferring money into your savings before you pay your bills
Original amount of money saved or invested
Cash set aside to cover the cost of unexpected events
Maximizing your return by selling stocks at a higher price than what you paid for
This is the money that is spend on goods, services, and bills.
Expenditures
Impulse buying
Long term goals
Needs
