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WorksheetsReal Money Real World Terms
Total questions: 23
Worksheet time: 12mins
Arjun checked his bank account to see his BALANCE.
the amount of money a person has in savings/checking
total money owed
paid work
salary
During the annual charity event at school, Daniel and Scarlett decided to make CONTRIBUTIONS. What does this mean?
a checkable deposit in a commercial bank or thrift institution
When people share their earnings by giving to a charity or worthy cause.
Tasks or activities performed by trained employees
paid work
debt
the amount of money a person has in checking or savings account
total amount of money you owe to a bank, savings and loan or another person
the amount of money an individual or family must stay within to meet expenses
the act of adding money to a savings or checking account
budget
the amount of money a person has in checking or savings account
total amount of money you owe to a bank, savings and loan or another person
the amount of money an individual or family must stay within to meet expenses
the act of adding money to a savings or checking account
job
a checkable deposit in a commercial bank or thrift institution
When people share their earnings by giving to a charity or worthy cause.
Tasks or activities performed by trained employees
paid work
checking account
saved money in a bank you can write checks out of
When people share their earnings by giving to a charity or worthy cause.
Tasks or activities performed by trained employees
paid work
career
the act of adding money to a savings account
an arrangement where you purchase now, pay later
An occupation undertaken for a significant part of a person's life with opportunities for progress
items taken out of a persons gross pay (taxes, social security, health insurance, retirement plans)
deposit
the act of adding money to a savings account
an arrangement where you purchase now, pay later
the tasks and activities performed by trained employees
items taken out of a persons gross pay (taxes, social security, health insurance, retirement plans)
Daniel wants to buy a new laptop but doesn't have enough money right now. What financial arrangement allows him to purchase the laptop now and pay for it later?
the act of adding money to a savings account
Using a credit card (or credit) and buying now but paying at a later date
the tasks and activities performed by trained employees
items taken out of a persons gross pay (taxes, social security, health insurance, retirement plans)
Liam received his paycheck and noticed several deductions. What are these deductions?
the act of adding money to a savings account
an arrangement where you purchase now, pay later
the tasks and activities performed by trained employees
items taken out of a persons gross pay (taxes, social security, health insurance, retirement plans)
Mia is considering different ways to ensure her new home is protected from potential damage or loss. What is the means of guaranteeing protection or safety for people or property from injury or loss of property?
insurance
interest
gross income
overdraw
Aria has a savings account at her local bank. She notices that the bank pays her a small amount of money each month for keeping her savings there.
Meanwhile, William took out a loan to buy a new car and realized he has to pay back more than he borrowed. What is the term for the extra money paid or received in these situations?
insurance
interest
gross income
overdraw
Aria received her paycheck and noticed the total amount of her wages BEFORE any deductions. What is this amount called?
insurance
interest
gross income
overdraw
Mia went to the store to buy groceries, but when she tried to pay, she realized she didn't have enough money in her account. What is this situation called?
insurance
interest
gross income
overdraw
Aria received her paycheck and noticed the amount of money she will have left over AFTER payroll deductions have been made. This is her take home pay.
net income
tax
savings
salary
Maya received her paycheck and noticed a portion of it was deducted to support various government programs. What is this deduction called?
net income
tax
savings
salary
disposable income, put aside in a savings account, not spent for consumer goods
net income
tax
savings
salary
Zoe receives a fixed payment at regular intervals for her work at the local library. What is this payment called?
net income
tax
savings
salary
Mason is planning his monthly budget and is trying to distinguish between things he must have to live and things he would like to have. What is something that Mason must have in order to live?
need
want
standard of living
trade off
Nora is considering buying a new smartphone, even though her current one works perfectly fine. What is this an example of?
need
want
standard of living
trade off
Scarlett decided to spend her savings on a new laptop instead of going on a vacation. This decision is an example of:
need
want
standard of living
trade off
Anika wants to review her financial activities for the past month. What document should she look at?
credit rating
career
bank statement
loan
Avery needs to buy a new car and decides to approach a lending institution for financial assistance. What is the money Avery borrows from the bank called?
credit rating
career
bank statement
loan
