Banking
What is Deposit Slip
A plan for spending is called:
What is a Budget
The amount of money that is held in a financial account is called a loan
What is False
Balance
Buying lunch every day instead of brining it from home is usually consider a ___
What is a want
Money that is earned for the work people do
What is Income
What kind of slip is used to remove funds from a checking or savings account at the bank?
What is Withdrawal Slip
Being on a budget means:
What is Making a plan for how you will spend and save your money
It is impossible to save money when you have a small income
What is False
If you can't pay for everything, this is the type of expense you should never skip
What is a need
Expenses that stay the same from month to month
What is Fixed Expenses
An employer putting money you earned directly into your bank account is a:
What is Direct Deposit
Putting money aside each time you are paid is called:
What is Saving
It is okay to skip payments on your bills some months, as long as you pay the next month
What is False
What is a loan?
What is A sum of borrowed money that is expected to be paid back
Expenses that vary from month to month
What is Flexible/Variable Expense
The amount of money a Lender or Financial Institution receives for lending out money
What is Interest
Rent or a home Mortgage payment is considered to be what type of expense?
What is a Fixed Expense
Debit Card transactions are deducted directly from the cardholders checking account
What is True
How do you calculate Sales Tax?
If the sales tax is 7%, how much sales tax is paid on a $40 purchase?
We will discuss
What is $2.80
The agreement between a Renter and a Landlord is a:
What is a Lease or Rental Agreement
When using an ATM, your PIN is designed to:
What is provide security as an authorized user/verify an individuals identity
The total amount of money that you actually take home after taxes and deductions:
a. Gross pay
b. Net pay
C. Federal Income Tax
What is gross pay
What is False
Security Deposit
Calculate the Sales Tax:
If the sales tax is 7%, how much is the TOTAL (after tax) on a $86.55 purchase?
Round to the nearest cent
What is $92.61
Extra money that is paid back when money is borrowed is called:
What is Interest