Personal Finance

You will have many options when it comes to using your money.

This term describes a business that stores the money of people and businesses and

makes loans to its customers.

• Loan

• Bank

• Interest

• Debit

• Credit

You will have many options when it comes to using your money.

The ability to obtain goods and services before payment, or money lent or made available,

both with specific guidelines for repayment.

• Loan

• Bank

• Interest

• Debit

• Credit

You will have many options when it comes to using your money.

This is an amount that is borrowed from a bank or credit union.

• Loan

• Bank

• Interest

• Debit

• Credit

You will have many options when it comes to using your money.

This is a fixed charge for borrowing money; usually a percentage of the amount borrowed.

• Loan

• Bank

• Interest

• Debit

• Credit

You will have many options when it comes to using your money.

This is a type of banking card that, when used, withdraws money from a banking account

that is linked to that card.

• Loan

• Bank

• Interest

• Debit

• Credit

You will have many options when it comes to using your money.

This is the legally accepted payment for goods and services.

• Loan

• Money

• Interest

• Debit

• Credit

Willie earns about $2,500 per month in income as a teacher. This is his monthly plan.

What type of financial plan is Willie utilizing?

• An investment portfolio

• A personal budget

• A cost-benefit analysis

• An inventory

Which of the following would be MOST LIKELY considered a fixed monthly cost in a personal budget?

• Cell Phone Bill

• Entertainment

• Groceries/Hygiene

• Savings

Which of the following is the BEST description of debt?

• Money earned in exchange for goods or services

• An asset purchased that will provide wealth in the future

• Money owed to an individual or institution

• The general increase of prices over time

Bryan would like to buy a new car. He has some money saved, but he’ll need to finance the rest. In order to determine what interest rate Bryan will receive on his loan, the bank will need to look at his—

• savings.

• budget.

• investments.

• credit score