Worksheets2.04 Financial Management
Total questions: 20
Worksheet time: 7mins
The essentials you can't live without are called:
Wants
Needs
Income
Expenses
Which of the following is an example of a need for most people?
An expensive car
A big-screen TV
Designer jeans
A place to live
It's important to spend money on things you need before spending money on things you want:
True
False
What is an expense?
a tax
a job
a payroll deduction
something you use or buy
The money that you receive for mowing the lawn, babysitting or getting an allowance is called__________.
Income
Credit
Debt
Interest
What is money you owe called?
debt
credit
interest
fee
What is a good reason to save money?
To have money to buy things
To have money put aside for emergencies
For a future purchase
All of the above
What is the fee paid for borrowing money called?
interest
credit
debit
tax
Pam needs to take money out of her account from an ATM. What card will she use?
Credit Card
Sam's Card
Debit Card
Macy's Card
Withdrawing more money from your debit or checking account than you have is called....
draft
overdraft
underdraft
withdraw
When you deposit money into your checking account, this is called a/an ____________________.
Debit
Credit
Good Idea
Addition
When you withdraw money from your checking account, this is called a/n __________________.
Debit
Credit
Bad Idea
Subtraction
What does "ATM" stand for?
Automated Teller Machine
Almost Time Machine
Active Time Moment
A Time Machine
a small plastic card issued by a bank, business, etc., allowing the holder to purchase goods or services on credit.
A card that has a set balance that you can only use at one place.
A card with the money from your checking account.
Which of the following is NOT true about the difference between credit cards and debit cards?
Purchases made with a debit card come directly out of your bank account
You must pay off your credit card bill monthly or there will be penalties
You must have a bank/checking account to use a debit card
Credit cards use money from your savings account
Chris gets a monthly statement each month to pay his_____
Barber
Credit Card
Debit card
Saving account
If you are buying groceries at the store and want to use the money in your bank account, you should pay with ______
Cash
Gift card
Debit card
Credit card
