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WorksheetsFinancial Literacy, 2022-23
Total questions: 30
Worksheet time: 23mins
Being on a Budget means.....
You are earning enough money to live well
You pay your bills on time every month
You made a plan of your expenses to be less than or equal to your income
Your bills are generally paid on time every month
What portion of your income should you budget for daily needs?
20%
30%
50%
10%
What does it mean to have an Annual Wage?
Your income is calculated by the amount of hours you work.
Your income is calculated by the year you work.
Your Income is calculated by the months you work.
Your income is calculated by the days you work.
What does it mean to have an Hourly Wage?
Your income is calculated by the amount of hours you work.
Your income is calculated by the year you work.
Your Income is calculated by the months you work.
Your income is calculated by the days you work.
When borrowing money, like a loan, you pay back the amount with....
Interest
Debt
Inflation
Income
What is a tax?
money owed after using a credit card
contribution to government revenue
a type of currency
a collection of your income for savings
What is an income?
a way to save money
the amount of tax owed
Money received from a job
a type of currency
True or False: Personal Finance is the ability to earn, spend, and save money to live comfortably and achieve goals.
True
False
A physical item that can be weighed, measured, and sold is a.....
Goal
Service
Good
Surplus
True or False: a Service is a task that a person or a machine performs for you.
True
False
The amount of money earned after selling an item is called a...
Income
Good
Service
Profit
The ways in which people make, distribute, and use their goods and services is called the......
Funds
Economy
Investment
Labor
This type of card allows you to purchase an item without cash, but requires you to pay back by the end of the month:
Debit Card
Library Card
Credit Card
Banking Card
This type of card allows you to purchase an item without cash, but takes money directly out of a bank account:
Banking Card
Library Card
Credit Card
Debit Card
This is the financial term for when an item, like a car, loses its value due to normal wear and use.
Depreciation
Appreciation
Loss of Investment
Normal Wear
Type of bank account that offers easy access to your money for daily transactional needs and helps keep your cash secure
Checking Account
Savings Account
Certificate of Deposit
Stock
Type of bank account that offers easy ways to save and earn interest on your money.
Checking Account
Savings Account
Certificate of Deposit
Stock
What does it mean to have personal debt?
You borrowed money, and need to pay back
Someone owes you money
You save money in a bank account
You made a budget to limit overspending
A good or service that motivates or encourages one to spend money...
Investment
Infomercial
Incentive
Interest
What is it called when making one choice to gain a benefit or opportunity, while knowingly losing another opportunity?
Savings
Investment
Trade-Off
Debt
True or False: Use a Deposit Slip to transfer money into your Checking or Savings account.
True
False
The current amount of money that is present in your financial account, like a savings or checking account, is called the......
Overdraft
Balance
Deposit
Deductible
The transfer of money, whether you are depositing or withdrawing, is known as a.....
Exchange
Withdrawing
Transaction
Deposit
True or False: A withdrawal involves removing funds from a bank account
True
False
When filling out a deposit slip or withdrawl slip, how will the bank know which account to use? Use your....
Credit ID
Name
Check Number
Account Number
True or False: You use checks to transfer money in and out of your Savings Account
True
False
This document allows you check all your bank transactions within a fixed time period.
Transaction Form
Paystub
Statement
Checkbook
The possibility of losing money on an investment is known as a...
Loan
Debt
Trade-Off
Risk
This is a partial ownership in a company.
CD
Stock
Profit
Bond
This is essentially lending money to the government in exchange for recurring profit payments.
Bond
Stock
Profit
CD
