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Unit 1 PA Review

Review of Unit 1 vocabulary for Post Assessment

QuestionAnswer
A goal that requires saving money and can be reached with a year short term goal
A goal that requires saving money for more than a year long term goal
If I need to save $200 in 5 months, how much would I have to save each month to reach my goal? $40 a month
Things you must have to live need
things that you would like to have but aren't necessary to live wants
expenses that are always the same and you can predict to pay them every week, two weeks or month fixed expenses
expenses that change based on usage variable expenses
expenses that come regularly but less often than monthly periodic expenses
money you earn from a job or get by another source income
something you spend your money on expense
a plan for how you are going to spend your money budget
a percent that is paid on money in a bank account or money owed interest rate
borrowed money loan
where money deposited into an account to earn interest savings account
payday loan predatory lenders
handwritten document used to pay for purchases using funds in a personal checking account check
the way you sign your name on important papers signature
a situation where an account does not have enough money to cover a payment insufficient funds
a personal record of your checking accounts transactions check register
the total amount of money you have in your account balance
a bank carat allows you to use it as a check or at the ATM bank card
Personal Identification Number PIN
to write one's signature on the back of a check, which will transfer money endorse
Created by: carter1959
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