WorksheetsChecking and Budgeting
Total questions: 20
Worksheet time: 20mins
The money that is taken out of your checking account either physically or by check or debit card payment.
outstanding balance
endorsement
stop payment
withdraw
Your income or pay before taxes and deductions.
net income
gross income
salary
"bank!"
Signature on the back of a check.
endorsement
outstanding balance
withdrawal
debit card
A ______ is something that is necessary for survival in our current society.
Need
want
You _______ your account when you write checks/make payments for more money than you have in the bank.
debit card
service fee
overdraw
deposit
What is something you really would like to have but it's not necessary.
Need
Want
Which is true about debit cards?
It's like a check but comes out of your account automatically.
It's more convenient than a check.
You can use your PIN number to make purchases.
All of the above.
Which category in your budget should have the most flexibility to be left in or taken out?
Needs
Wants
Savings
None of these
You have $100 in your bank account. You receive $200 for your birthday. You buy a pair of shoes for $50. What is your new balance in your account?
$225
$250
$375
$100
Budgets are designed to...
Manage your credit cards
Plan your vacations
Outline your spending and savings
Help keep your finances in order
The line on the bottom of a check that provides a place to write the purpose of the check is called _________
a signature line
the date line
the written amount of the check
the memo line
Paying for something with a ______ ______ is money you have to pay back with interest if not paid in full each month.
debit card
bank card
credit card
gift card
What is a good reason to save money?
To have money to buy things
To have money put aside for emergencies
For large future purchases
All of these
A _____________ is a log where you keep track of all your checking transactions. It can be done on paper or electronically.
Statement
Register
Which 50/30/20 rule matches the one we have learned about for budgeting?
50% Savings
30% Wants
20% Needs
50% Wants
30% Needs
20% Savings
50% Needs
30% Savings
20% Wants
50% Needs
30% Wants
20% Savings
When you put money into your account, which column of your register does it go in?
withdrawal
deposit
balance
it doesn't
Which of these are possible ways to put money into your bank account? Check all that apply.
Mobile Deposit
Taking a check to the bank for depositing
Direct Deposit
Putting a check or cash into an ATM deposit
What are some categories that may be in someone's needs budget? Check all that apply.
Housing
Transportation
Fast Food
Food
When you make a payment from your account, which column of your register does it go in?
withdrawal
deposit
balance
it doesn't
When you have made ANY type of transaction (deposit or withdraw), which column of your register needs to updated EACH TIME?
withdrawal
deposit
balance
it doesn't
