Vocabulary
True or False
Personal Banking
Reading a Budget
Misc.
1000
Adding or putting money into an account.
Deposit
1000
You should always spend more money than you have.
FALSE!
1000
What are TWO parts of a check?
The address, the name, the account name, the account number, the memo line, the pay to order line, the money written out, the signature line.
1000

Julia makes $100.00 babysitting three times a month and $67.00 for household chores each month. What is her total monthly income?

$367.00

1000

What does APR stand for?

Annual percentage rate

2000
Taking money out of an account.
Withdrawal
2000
Interest is always a good thing.
FALSE
2000
Who should know your ATM PIN?
Only you should know your PIN.
2000
David's expenses for each month are $40.00 for his phone, $20.00 for eating at restaurants, and $30.00 for savings. What are his total monthly expenses?
$90.00
2000

What’s the retirement plan that you get through your employer called?

401(k)

3000
A plan for how to save and spend money.
Budget
3000
Fixed expenses include things like rent.
TRUE
3000
What is a checking account?
Money kept for every day expenses.
3000

Sharon's monthly income is $2000.00. How much does she make in 12 months?

$800.00

3000

What are the names of the three big credit bureaus in the U.S.?

Experian, Equifax, TransUnion

4000
Extra money that you either earn or owe.
Interest
4000
The two parts of a budget are income and outcomes.
FALSE
4000
Why is it important to make a budget?
A budget helps plan your spending.
4000

Kristopher's income each month is $1999.00. His expenses are $550.00 each month. What are his savings for each month?

$1449.00

4000

What are the 5 factors that add up to make your credit score?

Payment history + utilization ratio + new applications + length of use + kinds of credit

5000
An I.O.U. that you pay later.
Credit
5000
Variable Expenses change from month to month
TRUE
5000

Why is it important to be careful when using credit cards? Explain your answer.

Credit card usage can impact your credit score!

5000
Briana saves $20.00 each month to buy a computer. The computer costs $500.00. How many months will it take for her to save enough money?
25
5000
Paula deposited $10,000 into a savings account. The interest rate was 5.5%. How much interest will she have in 15 years?
$8250.00
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