Financial Literacy

Banking

100

What type of account is typically used to keep money that will be used for a later time?

Savings Account

200

This type of card can offer benefits such as rewards, cash back, points, and travel insurance.

What is a credit card

300

What type of card can effect your credit score, positively or negatively?

A Credit Card

400

Money earned by investing or borrowing

interest

500

Number that assesses a person's credit worthiness

credit score

Spending Plans

100

This is the amount of money you should spend on your needs.

50%

200

A loan to purchase a house

mortgage

300

The term used to describe the things you spend your money on.

What are expenses?

400

Name the three types of expenses learned in this unit.

Fixed, Variable, Periodic

500

A disadvantage of this type of card is that it does not help to build your credit score.

Debit

Expenses

100

Examples of this type of expense include mortgage/rent, insurance, real estate taxes, and vehicle registration.

fixed expenses

200

Your water bill is an example of this type of expense.

Variable

300

Levy (money) paid by individuals or corporations to the government

a.  property tax

b.  income tax

c.  comission

income tax

400

Examples of this type of expense include groceries, wireless telephone, electric, heating oil/gas, and gasoline.

What are variable expenses?

500

What amount of your income should be spent on your wants?

30%

Personal Finance

100

This is a plan that outlines your income and expenses, helping you to reach your finance goals.

Budget

200

What type of job pays someone based on a percentage of something they sell?

Commission

300

The act of allocating money into assets such as stocks, bonds, or real estate, in the hopes to make more money

What is investing

400

When borrowing money from a lender, you will be paying MORE than the actual amount needed/borrowed over time because of:

Interest

500

The major advantage of this type of card is that it is much easier to avoid going into debt.

Debit Card

Hodge Podge

100

This is the amount of money that should be set aside and put into savings.

20%

200

This is the best way to protect your credit rating.

pay your bills on time

300

A recording artist is someone who gets paid this type of income:

a. contract

b. royalty 

c. salary

Royalty

400

Paying for a new floor after a flooded basement is what type of expense?

periodic

500

This type of income involves a wage that is fixed and determined on an annual basis.  

Salary