Debit and Credit
Advantage of using a debit card
What is easy access to your money and operates like check or cash.
Define income
What is money received from work
Difference between a need and a want
What is needing something for survival and wanting something for your personal use?
Savings should go in
What is a financial institution
The last step of writing checks
What is keeping track of your checks and the account balance in a register or ledger
When using credit the money is the banks money or your own money
What is the banks monkey?
The 4 things that will make you successful at choosing a job
What is interests, abilities, aptitude, and values.
Once people pay the fixed and variable expenses what is left
What is discretionary income
True or False
Savings accounts are a safe way to save money
What is True
The thing that happens when you write a check for more money that is in your account
What is your check will ”bounce”
Benefit of Good dept
What reflects positively on a consumers credit?
The effect that taxes has on your income
What is determining your net income?
The explanation scarcity help people make choices
What is having limited resources which prevents people from having everything that they want
The three common long-term investment types
What is stocks, mutual funds, and bonds
The meaning of someone that has a check that says 100
What is the first persons check
Reason why everyone uses the service of a financial institution.
What is helping people complete transactions with their money safely, quickly, and conveniently.
The total amount paid for hours worked without deductions
What is gross income?
True of False
A discretionary income is money available to spend on anything
What is True
When making a financial choice the next best alternative is
What is opportunity Cost
On a check the things that should be written on the upper left-hand corner
What is your name,address, and zip code
The reason using credit a bad thing
What is being in debt and your possessions being in foreclosure
The reason social security a good thing
What is benefiting people who are struggling
Explain the Pay Yourself First concept
What is setting aside money for needs and expenses
The reason savings account carry low risk
What is Bank and Credit Union accounts that are insure by the government
The point of keeping track of your checking account
What is seeing how much money you have to spend