Cheer
The newlyweds wanted to start their marriage being financially responsible. What tool could they use to keep track of where their money is going?
Spending Plan
Haley received a bonus and wants to deposit it in an account that allows limited withdrawals, but pays a higher interest rate. Which would be the best type of account for her to use?
Money market deposit account
In which category are a new car, designer clothes, and gaming systems?
Wants
Credit Union, Savings and Loan Institution and Commercial Banks are examples of:
Depository Institutions
Which account if withdrawn early has a penalty fee is charged and the interest rate is higher than other options?
Certificate of Deposit
Johnny is observed wearing a short sleeved shirt as he waits for the bus on a cold morning. A jacket for Johnny would be considered a:
Need
Marilyn believes that a portion of her income should go to charitable causes to help those less fortunate. This is an example of:
Values
Samantha is looking for an institution for her money management. She is looking for an account that pays interest on deposits, does not have check writing privileges, and has easy withdrawal access on demand. Which type of account would be best for Samantha?
Savings account
True/False: Keeping track of charges by keeping receipts is not necessary because they send you a statement every month.
Which account has no check writing privileges and money can be deposited and withdrawn an unlimited number of times each month?
Savings Account
Darrell's paycheck has had the taxes and benefits deducted. His take-home pay is referred to as:
Net Income
Fundamental beliefs or practices of personal importance should be placed in which category?
Values
Quinn is excited about her new job. The salary she was quoted for the position does not have deductions taken out of the amount. What type of income was Quinn quoted to earn?
Gross Income
Which of the following is the most popular type of depository institution:
Commercial Banks
True/False: Paying the credit card payment late is not that bad and does not have an extra fee with it.
False
An ability to borrow a limited amount of money on demand, small monthly payments, and no end date are characteristics of which money tool?
Credit Card
Which are examples of expenses?
Food and insurance
Low interest rates, no membership fees, and grace periods are important criteria to consider when selecting:
Credit Cards
Which account money can be withdrawn only a limited number of times each month with checks or a debit card?
Money Market Deposit Account
What is a difference between debit cards and credit cards?
With one, the account is linked to your own personal bank account
When Greg received his first paycheck, he was surprised to see it was much lower than expected. He had not considered the regular deductions that would be taken out of his check. The amount Greg received is referred to as:
Net Income
Which method of payment most likely requires a personal identification number (PIN) to confirm the electronic transfer of funds from an account?
Debit Card
Money earned from savings accounts and investments is an example of:
Income
What protects money in bank accounts from loss, thief or any disasters?
Federal Deposit Insurance Corporation (FDIC)
What is a tool to help people manage their money?
Spending Plan