Personal Finance -- SSEPF1-SSEPF6

Which one of the following terms is an organized spending plan for one's money?
SSEPF1b

• Cost System Analysis
• Bankruptcy
• Budget
• Profit and Loss Statement

Which one of the following terms is money that is paid regularly at a particular rate for the use of borrowed money?
SSEPFb

• Deposit
• Withdrawal
• Interest
• Net Worth

Which federal agency protects deposits in commercial banks ?
SSEPF2

• FDIC
• IRS
• DEA
• EPA

Financial institution licensed to receive deposits and make loans.
SSEPF2a

• bank
• credit union
• savings house
• credit house

Expending money with the expectation of achieving a profit.

• profiting
• budgeting
• debiting
• investing

A financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something. 

• profit
• deposit
• savings
• credits

Why do members of a community have to pay taxes?
SSEPF3c

• To pay for services provided by the government
• So that people do not have to pay for their family's groceries
• To pay for everything people want
• So that people can buy a new car

The number that reflects your ability to get a loan and interest rates is your
SSEPF4a

• credit score
• credit karma
• bank rank
• LTF (Loan Trust Factor)

The number that reflects your ability to get a loan and interest rates is your
SSEPF4a

• credit score
• credit karma
• bank rank
• LTF (Loan Trust Factor)

Why should we INVEST instead of SAVE for retirement?

• Investing money can make it grow in the long term.

• Investing is safer than saving.

• Saving is too risky for retirement.

• Investing is more fun than saving.