Money Management

A _______________ is process of .preparing a spending plan.

• List

• Budget

• Guide

• File

Which of the following is not a reason for having a budget?

• To show off your wealth

• To save for personal needs

• To use for emergency

• For retirement plans

Which of the following is a common contactless payment in Singapore?

• Cash

• Debit card

• Cheque

• Paywave

Which of the following is an acceptable mode of payment in a wet market?

• Credit card

• Debit card

• Cash

• Nets

What is the disadvantage of paying by cash?

• Not accepted at all stores

• Late payment charges

• Currency cannot be used overseas

• Need to tup up value

Which of the following method of payment is suitable for online purchases?

• Credit card

• Cheque

• Cash

• Cash Value Card

Why is frequent purchases using credit card not encouraged?

• Heavy to carry around

• Not accepted at all stores

• May lead to bankruptcy

• Need to top up card

Determine which of the following is not a need.

• Car

• Food

• House

• Medical needs

_______________ are desires for goods and services we would like but do not need, and can do without.

• Needs

• Wants

• Budget

• Taxes

How do we use credit responsibly?

• Spend whenever there is a sale on going

• Avoid saving money

• Keep track of amount spent

• Pay the minimum amount for our credit card