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WorksheetsPersonal Money Management
Total questions: 20
Worksheet time: 11mins
The money that you receive for mowing the lawn, babysitting or making good grades is called__________.
income
debt
credit
interest
Every month after my parents pay all of the family’s bills they set aside a little bit of money for the family to do fun things like go to the movies, bowling and even go to amusement parks. My family uses a _____________
income
debt
interest
budget
______________ is anything you exchange for goods and services.
checks
bartered
money
Before money, people __________, or traded, to get things they needed or wanted.
money
bartered
income
currency
Which government agency is responsible for creating and tracking all of the money in the United States?
Employer
Internal Revenue Service
Federal Reserve
Federal Commissions Agency
__________________ measures how comfortable you are based on the things you own.
financial goals
budget
standard of living
income
A ____________ is a plan for spending and saving money.
financial goal
income
budget
Choose all that apply that is considered income.
Wages
Savings
Gifts
Allowance
Choose all that apply that is considered expenses.
Purchases
Savings
Charitable donations
Interest
A deduction is sometimes called.......
income
debt
withholdings
pay stub
Income before taxes
gross income
net income
Income after taxes
gross income
net income
What is saving?
Amount of money used for purchasing items
Setting aside money for future use
Amount of money a worker earns
Amount of money spent in a day
What is income?
money earned by a worker in a year
money spent
money set aside for future use
using money in hopes of gaining more in the future
The total amount of money earned before payroll withholdings
net pay
gross pay
payroll deductions
none of these
Also known as take home pay, this is the amount left after all payroll deductions have been taken from the gross income
gross pay
withholdings
net pay
real pay
Which choice would be referred to as a "need"?
cell phone
food
new tennis shoes
baseball glove
What is credit?
when you purchase items with cash
when you use a check to buy groceries
when you deposit money in your checking account
when you buy something and pay for it later.
Once you lose cash, there is no way to get it back.
True
False
Use of a debit can overdraw your checking account.
True
False
