Financial Literacy

Front

What is a benefit of saving money in a bank?

Back

Money in savings accounts earns interest.

Front

Advantage of setting aside money for unplanned expenses in a family budget?

Back

It prevents them from going into debt to pay for unplanned expenses.

Front

Which word describes a deposit that is electronically transferred from your employer's checking account to your checking account? Options: direct deposit, checking account, ATM, personal identification number

Back

direct deposit

Front

Abe, a 35-year-old teacher, is saving money for five things: 1. Retirement 2. A bowling ball 3. A family camping trip in the summer 4. His 7-year-old son’s college tuition 5. His 15-year-old daughter’s college tuition. Which items from the list represent long-term savings goals for Abe?

Back

His 7-year-old son’s college tuition and his 15-year-old daughter’s college tuition

Front

Jake needs a financial institution accessible anytime and anywhere. Options: Credit Union, Savings and Loans, Internet Banking, Traditional Banking Services.

Back

Internet Banking

Front

What type of bank account allows you to withdraw your money easily by using checks or a debit card?

Back

Checking Account

Front

Which of the following would be a government funded public good and/or service? Options: a library, a mall, a toy store, a restaurant

Back

a library

Front

Which of the following is the lowest wage permitted by law?

salary

,

income

,

commission

,

minimum wage

Back

minimum wage

Front

Which items from the list represent short-term savings goals for Abe? 1. Retirement 2. A bowling ball 3. A family camping trip in the summer 4. His 7-year-old son’s college tuition 5. His 15-year-old daughter’s college tuition.

Back

2 and 3 only

Front

What is one way you can make your money work for you?

Back

Your money can earn interest in a savings account.