WorksheetsFinancial Literacy
Total questions: 8
Worksheet time: 3mins
What is the difference between a credit and debit card?
No difference, they're the same
Credit is your money, debit is borrowed
Credit is borrowed money, debit is yours
Debit uses savings account and credit uses checking account
What is the difference between a savings and checking account?
You use your savings account for every day transactions, checking is for emergency or large spending
You use your checking account for every day transactions, savings is for emergency or large spending
There is no difference, just different names
Checking account uses checks, savings is for everything else
A debit card is linked to what account?
Savings
Credit
Checking
What do you need to do to get a debit card?
Open a checking account and fill out an application
Get a co-signer (parent/guardian)
Show your credit score and apply
Open a savings account and fill out an application
DEBIT uses what money?
YOUR money
THE BANK'S money
CREDIT is what money?
YOUR money
THE BANK'S money
What do you need to get a credit card?
A perfect credit score
A parent or guardian's signature and permission
A checking account and an application
Your legal information and proof of income, which may be a "co-signer"
Which of the following are things you SHOULD NOT do with a credit card? (Multiple correct answers)
Spend less than your credit card limit
Pay your bills late
Treat credit like free money
Spend over your credit card limit
