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Vocabulary
True or False
Personal Banking
Reading a Budget
Random Questions
100
Adding or putting money into an account.
Deposit
100
You should always spend more money than you have.
FALSE!
100
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.
100
Julia makes $100.00 babysitting and $50.00 for household chores each month. What is her total monthly income?
$150.00
100

Arachnophobia is the fear of

Spiders

200
Taking money out of an account.
Withdrawal
200
Interest is always a good thing.
FALSE
200
Who should know your ATM PIN?
Only you should know your PIN.
200
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
200

Insectophobia is the fear of

Insects

300
A plan for how to save and spend money.
Budget
300
Fixed expenses include things like rent.
TRUE
300

What is a checking account?

A Demand Deposit account that has money kept for every day expenses.

300
Sharon's montly income is $200.00. How much does she make in 4 months?
$800.00
300

Chronomentrophobia is the fear of

Clocks

400
Extra money that you either earn or owe.
Interest
400
The two parts of a budget are income and outcomes.
FALSE
400
What is the Formula to Calculate Interest

Interest = Principal X Rate X Time

400

Kristopher's income each month is $2000.00. His expenses are $500 each month. He saves 10% of his total monthly Income. What are his savings for each month?

$200

400

Octophobia is the fear of

The figure 8

500

What is it called when you borrow money from a bank?

Loan

500
Variable Expenses change from month to month
TRUE
500

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

You can go into massive debt!

500
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
500

Trypophobia is the fear of

Holes