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WorksheetsPersonal Finance Formative
Total questions: 15
Worksheet time: 8hrs 30mins
Jacob works at a local smoothie store. He goes to college full time and works part-time. Jacob averages 25hours per week at the smoothie store and makes $9.50 per hour. What type of income best describes Jacob?
Commission
Wage
Salary
None of the above
______ is required for a household to be able to provide basic needs, such as housing, transportation, groceries, etc.
Insurance
News
Income
Checks
______ a type of income in which a person earns a certain percentage of what he or she sells.
Commission
Wage
Salary
Retirement
_____ basic needs that a household must pay for
saving
budget
expenses
income
setting money aside to use in the future
saving
income
salary
budget
a plan on how to spend and save money
saving
budget
expenses
wage
an hourly rate paid in exchange for labor (work)
saving
budget
income
wage
Which action negatively affects credit scores?
skipping payments
paying bills on time
a low balance on credit cards
opening one new credit account at a time
Opening several new credit accounts at the same time improves a person's credit score.
TRUE
FALSE
Katie wants to save money each month. What would help Katie?
avoiding bank accounts
buying wants before needs
following a responsible budget
spending extra money on luxuries
Credit means buying something now and paying for it later (usually with interest)
TRUE
FALSE
Income is money that you earn from working or gain from investments.
TRUE
FALSE
Interest is a fee paid to use someone else's money.
TRUE
FALSE
A credit card is a form of money.
TRUE
FALSE
Money left over after buying what is needed and wanted
Saving
Credit
Income
Spending
