Personal Financial Literacy

To put money away to use later is called_______.

• Spending

• Withdrawal

• Borrowing

• Saving

When you make a _________, you are putting money INTO a bank account.

• Withdrawal

• Borrow

• Deposit

• Spend

Sarah left her crayons at home so she had to ask John if she could use his for a short amount of time. This is an example of ___________.

• lending

• saving

• borrowing

• spending

Eric has a lemonade stand. He sells small cups for $1.00 and large cups for $2.00. Joe purchased a large cup of lemonade. Who is the consumer?

• the lemonade

• Joe

• the cups

• Eric

Garrett makes masks with his sewing machine. He sold 5 masks to Pete for $20. Who is the consumer?

• Garrett

• Pete

• the masks

• the sewing machine

Ali uses $50 from his piggy bank to pay for a new bike. This is an example of_______.

• Saving

• Spending

• Lending

• Borrowing

Alyssa wants to take her dog to the groomer but it will cost her $75. She goes to the bank to ___________ $75.

• save

• deposit

• producer

• withdrawal

Avery sees that Tom doesn't have a pencil to write with. She decided to _______ Tom one of her pencils.

• lend

• borrow

• deposit

• consumer

Angela borrows 5 quarters from Tom and then returns 4 of the quarters to him. Is this an example of responsible or irresponsible borrowing?

• Responsible

• Irresponsible

Tony borrowed 5 dollars from his dad to pay for a new pencil box. He paid his dad back a dollar every week for 5 weeks until he paid all the money back.

• Responsible borrowing

• Irresponsible borrowing