Managing Your Money
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| The price paid for using someone else's money | Interest
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| Savings tool offered by depository institutions may earn interest. Which of the following statements is not true about earning interest? | When earning interest, look for low rates.
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| A sum of money demanded by a government to support the government itself as well as specific facilities or services | Taxes
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| To increase his net worth, Jackson could? | Increase his assets
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| Key difference between commercial banks and credit unions? | Commercial banks are "For Profit" and credit unions are "Not For Profit"
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| An account at a depository institution that is designed to hold money not spent on current consumption | Savings Account
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| Apps that many depository institutions have developed that allow online banking access from devices such as a smartphone | Mobile Banking
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| Taxes that are charged on consumption items such as gasoline, hotel rooms, and airline tickets are called? | Excise
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| Who is Medicare designed to help? | Senior Citizens
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| Income received from sources other than employment | Unearned Income
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| A person who pays a tax to national,state, county, or municipal governments | Taxpayer
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| Money spent is referred to as... | Expense
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| Expense is greater than income | Net Loss
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| A payment,usually monthly, applied to the balance of a home loan used when purchasing a house | Mortgage
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| An individual's income earned as salary or wages before taxes and other deductions | Gross Income
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| income and expense statement referred to as a budget | spending plan
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| non contractual expenses | gasoline, food and entertainment
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| do not include on an income and expense statement | taxes she paid last year
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| to increase net worth | increase his assets
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| calculate her net worth | assets minus liabilities
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Created by:
thealicialauren
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