Chapter 7 Lesson 4 Spending and Saving

Credit is______________.

• a promise to pay for something.

• the same as savings.

• money you earn.

• money you spend.

A ____ _____ lets the cardholder buy things and pay for them later.

• savings account

• credit card

• deposit

• loan

The money a person earns but does not spend is called that person's _______.

• credit

• interest

• savings

• loan

A ____ is a business that keeps, exchanges, and lends money to people.

• bank

• credit card

• savings account

• deposit

_____ is the money a bank gives you for letting it hold your money.

• a loan

• deposit

• budget

• Interest

The money you put INTO the bank is called a ______.

• loan

• deposit

• budget

• credit

When banks LEND money, the money is called a ____

• loan

• interest

• deposit

• bank

A budget is ________.

• a plan that shows your income, expenses, donations, and savings.

• money you borrow from the bank.

• the same as interest.

• money you earn from your job.

A budget helps you______.

• spend more money.

• earn more money.

• keep track of your money.

• donate your money.

A loan is not a gift

• true

• false