Economic world - TEST #4

What is a budget?

• A plan for how you will spend your money. You work out your income and your expenses to see how much money is leftover.

• The government make budgets and spend them on tax

• A plan for how to spend your time

The 'S' in SMART goal stands for

The 'M' in SMART goal stands for

The 'A' in SMART goal stands for

• Accurate

• Achievable

• Alike

• Available

The 'R' in SMART goal stands for

• Realistic

• Relevant

• Rates

• Rely

The 'T' in SMART goals stands for

If you don't pay back your​ (a)   by the end of the​ (b)   , you will be charged​ (c)  

• Credit Card
• Interest
• month

What is 'interest'?

• A percentage that you are charged on the money you borrow (eg. on credit cards or loans)

• You really like something and want to buy it

• A brand of credit card

• a pro of using a credit card

Is a credit card an example of a credit or cash method?

Which of these is NOT a cash method (eg. is not money you have)

• Prepaid gift card

• EFTPOS or debit card

• Bank loan

• Online transfer