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WorksheetsUnderstanding Personal Finance Terms
Total questions: 20
Worksheet time: 10mins
A _ is a plan for how to use money.
Expense
Income
Budget
Money you earn or receive is called what?
Expense
Income
Fixed Expense
Money you pay out is called what?
Expense
Wants
Variable Expense
A _ stays the same every month (like rent).
Fixed Expense
Budget
Wants
A _ changes from month to month ( like groceries).
Needs
Fixed Expense
Variable Expense
Things you must have to live, like food and shelter, are called what?
Wants
Needs
Income
Things you would like to have, but don’t need, are called what?
Needs
Expenses
Wants
When you keep money for later, you _ it.
Save
Need
Budget
When you use money to buy something, you _ it.
Deposit
Spend
Cash
A _ is a place where you keep your money safe.
Bank
Safe
Deposit
When you put money into the bank, you make a _
Check
Balance
Deposit
When you take money out of the bank, you _ it.
Check
Cash
Withdraw
The amount of money left in your account is your what?
Balance
Cash
Deposit
Paper money is called what?
Cash
Deposit
Withdraw
A _ is a piece of paper you sign to pay someone.
Cash
Check
Receipt
A _ lets you borrow money now and pay later
Debit Card
Credit Card
Loan
A_ takes money directly from your bank account
Withdraw
Debit Card
Cash
A _ shows what you bought and how much you paid.
Receipt
Balance
Check
Monthly payments you must pay, like electricity or phone, are called what?
Wants
Bills
Needs
A _ is a special account where you keep money to grow
Checking
Joint
Savings
