WorksheetsIntro Personal Finance
Total questions: 26
Worksheet time: 24mins
What plan is used to manage money?
check
checking account
budget
retirement account
A document from your bank that details all of your monthly transactions including income, expenses and balances.
Expense
Budget
Checking Account
Bank Statement
The amount of money you earn when you work at a job
income
budget
expense
Anything that you have to pay for each month. (Rent, Utilities, Gas, groceries etc.)
leisure
expenses
savings
What is the difference between wants and needs?
Wants are short-term desires, while needs are long-term goals.
Wants are tangible items, while needs are intangible.
Wants are things that are necessary for survival, while needs are things that are not essential.
Wants are desires or preferences, while needs are necessities.
Something you desire or wish for
a "want"
a "need"
Something you need to sustain life
a "want"
a "need"
How an individual saves and spends money.
Checking Account
Savings Account
CD Account
Personal Finance
Financial literacy means that you know how to handle __________ responsibly.
money
time
energy
food
All of the decisions and activities of an individual or family regarding their money, including spending, saving, budgeting, etc.
Personal Finance
Currency
A bank account is a financial account maintained by a bank for a customer.
A document showing income, expenses, and balances is called a
Credit Report
Financial Statement
Credit Card Statement
Fraud Report
Bank Account
Proof of Identification
A plastic card used to withdraw money
A agreement between made with a bank to keep your money.
What is investment?
money spent on something with the goal of making more money
money spent on other things
money spent on saved products
A document, like a driver's license or birth certificate that proves who you are is called:
Idenfication
Social Security Number
Tracker
Bank Statement
_________ is an account designed for accumulating money for future use
interest bearing account
savings account
checking account
Which are two uses of your Social Security number by the Social Security Administration?
Keeping track of earnings
Keeping track of the benefits you receive
Keeping track of credit card statements
Applying for a job
None of the above
Why is it important to track expenses?
To have less control over finances, overspend, ignore financial goals, and waste money.
To achieve financial goals, save money, manage finances, and identify overspending.
To manage and control finances, identify overspending, save money, and achieve financial goals.
To increase debt, ignore financial goals, overspend, and mismanage finances.
Which is a reason to have direct deposit?
Your check is deposited faster
Your pay is higher
You don't have to pay taxes
You get paid more often than employees without direct deposit
An automatic deposit of a paycheck without having to take a physical check to the bank.
Debit card
Direct deposit
Fees
Interest-bearing checking account
Overdrafts
Amounts withdrawn from your account beyond the money the account holds.
Debit card
Direct deposit
Fees
Interest-bearing checking account
Overdrafts
Putting money into an account.
Interest
Credit
Deposit
Withdrawal
Taking money out of an account.
Interest
Credit
Deposit
Withdrawal
What is an overdraft fee?
A charge when using an ATM not owned by your bank or credit union.
Fee charged when money is moved from one account to another.
A fee charged when you pay back money that you borrowed.
A fee charged your account when you spend more money than you have in your account.
