Debit vs Credit
When you use a debit card, the money comes from your __________.
bank account
The name of the person or business you are paying goes on the “Pay to the ______” line.
order of
The 50/30/20 rule is a way to plan how you spend your __________.
money
Taxes are money people pay to the __________.
government
You buy snacks using money that is already in your checking account.
Is this debit or credit?
Debit
Where do you write the amount of money using numbers on a check?
In the small box on the right side
In the 50/30/20 rule, 50% of your money should go to:
A. Fun things
B. Needs
C. Savings
B. Needs
Which of these is something taxes help pay for?
A. Video games
B. Candy
C. Healthcare and Education
C. Healthcare and Education
Which card lets you borrow money and pay it back later?
A. Debit card
B. Credit card
C. Gift card
Credit Card
What should you do before giving someone a check?
A. Leave it blank
B. Sign it
C. Rip it up
B. Sign it
Rent, groceries, and electricity are examples of:
Needs
Everyone gets to keep all the money they earn and never pays taxes.(true/false)
False
You use a card today, but the bill comes at the end of the month.
Is this debit or credit?
Credit
Why do you write the amount in words on a check?
To ensure no one can easily change it.
If you earn $100, how much should go into savings using the 50/30/20 rule?
A. $20
B. $30
C. $50
A. $20
What is the difference between gross pay and net pay?
Gross pay is the total money you earn before taxes are taken out. Net pay is the money you have after the taxes are paid.
If you do not pay your credit card bill on time, what can happen?
A. Nothing happens
B. You get extra money
C. You pay extra fees or interest
C. You pay extra fees or interest
What can happen if you write a check for more money than you have?
A. The bank gives you free money
B. The check may bounce and you may pay a fee
C. Nothing happens
B. The check might bounce and you might have to pay a fee to the bank
Going to the movies or buying video games fits into which part of the rule?
Wants
What is the difference between income and sales tax?
Income tax is a portion taken from the money people earn at jobs. Sales tax is an extra amount added to a price of the things you buy at stores.