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Vocabulary
True or False
Personal Banking
General Info
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

It has been a long time, but Mr. Wade bears an uncanny resemblance to?

Mr. Brad Pitt

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

The two parts of a budget are ______ and ______.

Income and spending

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?

Money that you actually have for everyday expenses.

300

Identify a main difference between a bank and a credit union.

Banks: Owned by investors, paid board directors

Credit unions: Owned by customers, elected volunteer board directors

400
Extra money that you either earn or owe.
Interest
400

You will need to go to your bank in person to deposit a check over $500.

False

400

Why is it important to make a budget?

A budget helps plan your income vs. spending.

400

Ms. Doyle's famous financial rule is: If you have an issue in your budget, you always have two choices: _______ or ______

Spend less or make more

500
An I.O.U. that you pay later.
Credit
500
Variable Expenses change from month to month
TRUE
500

Why is it important to be careful when using credit cards?

Answers may vary (but Mr. Wade has unc status)

500

Identify 3 factors that contribute to your credit score.

Types of credit, length of credit history, amounts owed, payment history, and new credit.