Financial Literacy

Banking

100

What type of account is used to save money?

Savings Account

200

What is it called when you put money into your bank account?

Deposit

300

What is the type of fee that will be charged if you use more money than you have available?

Overdraft fee

400

What does ATM stand for?

Automated Teller Machine

500

What is the system that banks use to determine if you qualify to open an account?

Chexsystems

Budgeting

100

What is a budget in 5 words?

 A plan for your money

200

What is income?

Any money you have coming in. Can be from a job or allowance. 

300

What is the cost of goods and services?

Expenses

400

What is money that is owed?

Debt

500

How is the 50/30/20 rule broken down?

50% on needs, 30% on wants, and 20% on savings

Money Matters

100

What is a specific duty, task, or activity someone completes using his or her time, skills, and energy to earn money.

A Job

200

What is difference between a Debit card and a Credit Card?

A debit card is your money. A credit card is borrowed money.

300

What is interest?

An amount that is charged when you borrow money. 

400

What is credit?

Your ability to borrow money

500

What is the state of Texas sales tax rate (shown as a percentage)

8.25%