Financial Literacy

A budget is...

• The same thing as a savings account.
• A sum of money to be used for a particular purpose.
• A list of things you want.

A debit card is...

• Like a credit card, but it takes money directly from your bank account.
• A card that lets you buy goods and services based on a promise to pay later.
• A card which you may only make online purchases with.

A credit card is...

• A card that lets you buy goods and services based on a promise to pay later.
• A card that charges monthly interest if the balance is not paid in full.
• Both answers A and B

A checking account is...

• A sum of money to be used for a particular purpose.
• A share in a corporation that gives you a stake in the company and its profits.
• A bank account where the depositor can write checks.

A savings account is...

• A bank account where money is stored and returns a low interest rate.
• The same thing as a checking account.
• A bank account that allows you to borrow money at a rate of interest. 

Blank is a check that is dishonored because of insufficient funds.

• Overdraft
• Statement
• Cleared Check
• Bad Check 

Blank is a check that has been honored and processed.

• Overdraft
• Statement
• Cleared Check

Blank is a record book used to keep track of all transactions. 

• Check Register
• Cleared Check
• Statement 

Blank occurs when withdrawals have gone over the available amount. 

• Overdraft
• Statement
• Bad Check
• Check Register

Blank is a document published by your bank that details all transactions for the month. 

• Overdraft
•  Statement
• Cleared Check
• Check Register