Banking Terms
What is a safe place at a bank to keep the money you want to spend right away?
Checking Account
A tablet costs $124.30 what is the next whole dollar up?
$125
You go to the store to buy some needed items. Your total is $4.55. You are paying with cash, give 1 example of bills you could use to pay for this. (ex. 1-$5). What is another way?
5-$1s
A plastic card that lets you buy things now and pay for them later.
Credit Card
What is a safe place at a bank to keep money you want to save for the future?
Savings Account
A bicycle costs $289.15, what is the next whole dollar up?
$290
You go to the store to buy some needed items. Your total is $14.55. You are paying with cash, give 1 example of bills you could use to pay for this. (ex. 1-$10, 1-$5). What is another way?
3-$5s
15-$1s
2-$5s and 5-$1s
Is the maximum amount of money you are allowed to spend on your card.
Credit Limit
What is a plastic card from your bank that lets you spend your own money without carrying paper cash?
Debit Card
Mrs. Robinson purchased a movie ticket for $19.35, a large popcorn for $12.45, and a large soda for $4.55. Determine the next whole dollar amount she will need to pay for her items?
$37
You go to the store to buy some needed items. Your total is $24.55. You are paying with cash, give 1 example of bills you could use to pay for this. (ex. 1-$20, 1-$5). What is another way?
2-$10s, 1-$5
5-$5s
25-$1s
Is the money you owe to someone else that you must pay back.
Debt
This means you do not have enough money in your account to pay for something you are trying to buy.
Insufficient Funds
Mrs. Clark bought snacks for the class, she purchased a case of Taki's for $17.89, a 12 pack of Pepsi for $8.99, and 4 monsters for $15.59. Determine the next whole dollar that she will need to pay for the items?
$43
You go to the store to buy some needed items. Your total is $44.55. You are paying with cash, give 1 example of bills you could use to pay for this. (ex. 2-$20, 1-$5). What is another way?
4-$10s and 1-$5
2-$20s and 5-$1s
Is the smallest amount of money you must pay the bank each month to keep your account safe and avoid penalties.
Minimum Payment
What is a penalty charge or fee from the bank when they let you buy something even though you do not have enough money in your account?
Overdraft Fee
The Functional Life Skills class goes to the grocery store to purchase items to make Mozzarella sticks and they need to buy cheese sticks at $15.99, bread crumbs at $5.65, eggs for $2.49, and marinara sauce for $3.99. Determine the next whole dollar amount needed to purchase these items?
$29
You go to the store to buy some needed items. Your total is $54.55. You are paying with cash, give 1 example of bills you could use to pay for this. (ex. 2-$20, 1-$10, 1-$5). What is another way?
5-$10s and 1-$5
5-$10s and 5-$1s
2-$20s, 1-$10, and 5-$1s
Is an extra fee you have to pay the bank as a penalty for not paying your bill in full.
Interest