WorksheetsMath in Personal Finance Vocabulary
Total questions: 16
Worksheet time: 13mins
What is an annuity?
A single large payment
A series of equal deposits or payments
A type of loan
A financial liability
What does budgeting involve?
Investing in stocks
Allocating an individual’s income to cover their expenses
Calculating interest
Saving for retirement
What is compounding in finance?
Calculating taxes
Interest generated on previously earned interest
A type of financial asset
A method of budgeting
Which of the following is considered a financial asset?
Credit card debt
Money in bank accounts
Monthly rent
Utility bills
What does financial net worth represent?
Total income earned in a year
Individual or family’s financial assets minus financial liabilities
Amount of money spent on expenses
Total value of investments
What is the field of study concerned with numbers, quantity, shapes, and the relationships among them?
Physics
Chemistry
Mathematics
Biology
What are parts of whole numbers expressed in hundredths and followed by a percent symbol called?
Fractions
Decimals
Percentages
Ratios
What is the process of managing personal assets to achieve economic satisfaction known as?
Investment Banking
Personal Financial Planning
Corporate Finance
Economic Analysis
Which tool helps individuals effectively manage their personal finances?
Personal Financial Tools
Accounting Software
Tax Calculators
Budget Sheets
What is the interest computed on the principal, excluding previously earned interest, called?
Compound Interest
Simple Interest
Annual Interest
Accrued Interest
A plan for spending is called a (a)
You don't need a plan when it comes to your money. (a)
To create a budget, you need to track your (a) .
Income is the money you (b) , while expenses are the money you (c)
A budget contains a list of your (a) , such as allowance, part-time job, or gifts.
It also includes a list of (b) , such as rent, groceries, transportation, and entertainment.
Lastly, a budget should have a savings category to allocate money for (c) .
Which of the following expenses should be included in a typical budget?
taxes
charitable giving - charities
savings
All of the expenses should be included in a typical budget
