WorksheetsBanking and Personal Finance Terms
Total questions: 10
Worksheet time: 5mins
Debt refers to
money owed to another person or institution
extra income earned from a side job
cash kept at home for emergencies
a gift of money that never needs repayment
CD (banking) is best described as
a time deposit that earns a fixed interest rate until a set maturity date
a debit card used to withdraw cash from an ATM
a checking account that allows unlimited transactions
an online wallet for instant payments
A savings account is
a bank account that earns interest and is used to store money over time
a loan that must be repaid with monthly installments
a prepaid card holding a fixed balance
an account for daily spending that typically earns no interest
A checking account is primarily used for
everyday transactions like paying bills and using a debit card
locking money for a set term to earn a fixed rate
investing in stocks and bonds
holding cash that cannot be withdrawn
A credit card lets you
borrow up to a limit and repay later, with interest on unpaid balances
spend only the money already in your checking account
deposit cash to earn a fixed rate until maturity
send money that never needs to be repaid
Credit score is
a number that represents how likely you are to repay borrowed money
the amount of cash in your savings account
the interest rate set by your bank for CDs
a list of all purchases made with a credit card
Interest rate means
the percentage charged or paid on the principal amount over time
the total amount borrowed in a loan
the maximum limit on a credit card
the fee for opening a bank account
A loan is
money borrowed that must be repaid, usually with interest
a type of savings account with ATM access
a grant that never requires repayment
a prepaid card with a fixed balance
Student loans are
loans used to pay for education, often with repayment deferred until after school
grants that never need to be repaid
credit cards offered to college students only
scholarships based on sports performance
Budgeting is the process of
planning how to allocate income toward spending, saving, and bills
borrowing money to pay for large purchases
earning interest by locking funds in a CD
tracking only entertainment expenses
