Your total earnings before deductions

a). net pay

b). gross earnings

c). deductible redactions

d). credit history

Money subtracted from earnings

a). deductions

b). creditors

c). piecework 

d), loan

An order written by a bank depositor that tells the bank to pay out money 

a). canceled check

b). check

c). checking account

d). gross check tax

The portion of a checkbook used to record the checks written

A bank account that pays interest to customers in return for using their money 

People who lend money are called _____

a). Debters

b). Compound checkers

c). Certificate of Deposits

d). creditors

If you miss a payment on a credit card, you may have to pay __________, which is interest on top of the interest you already owe

a). interest

b). deductions

c). piecework

d). compound interest

A check that has been paid out by the bank is a _______

a). deposit slip

b). canceled check 

c). budget

d). bank statement

A record of money put into an account

What is an example of open-ended credit?

What is your credit history?

a). a record of how you've borrowed and repaid debts

b). an order written by a bank depositor directing the bank to pay out money 

c). total earnings before deductions

d). money subtracted from earnings

Payments that citizens are required to make to help pay the costs of government services are called ____

What is it called when you write a check but do not have enough money in your account when the depositor tries to cash the check?

What is a bank statement?

a). interest paid on top of interest already owed 

b). a record of how you have borrowed and paid back debts

c). a check that has been paid by a bank 

d). a bank report that shows the condition of a depositor's account

Give two reasons why successfully managing your income is important. 

List at least three deductions that may be taken from a worker's gross earnings

Why is it a good idea to keep money in a bank that is insured by the Federal Deposit Insurance Corporation (FDIC)? 

Going out to eat at a restaurant, buying new clothes, and paying for a family vacation can be classified as a _________

A closed-end credit loan with stipulations on how much must be paid, how often, and for how long is an example of a ______________ 

List two ways that budget can be an important part of successful money management. 

What are the three "C's" banks usually use to determine whether to give someone a loan? 

How do banks protect their employees from robbers?

What is the main reason banks fail?

Why do banks deny loans to people?

When planning a budget, is it better to estimate to underbudget or overbudget for entertainment expenses? Why? 

b). gross earnings 

a). deductions

b). check 

check register

savings account

d). creditors

d). compound interest

b). canceled check 

deposit slip

A credit card that you pay a bill on once a month. 

a). a record of how you've borrowed and repaid debts

taxes

bounced check 

d). a bank report that shows the condition of a depositor's account

Example Answers:

1). So you dont go broke

2). So you have money to spend on the things you need and want in order to make you satisfied with life 

Example Answers: 

-social security

-federal income tax

-city tax

-local tax

-property tax

-medicare

If the bank goes out of business, is robbed, or otherwise loses your money, the FDIC insures up to $250,000 of your money. 

variable expense 

fixed expense 

Example Answers: 

A budget lets you know how much money you have and how its being spent

A budget will prevent emergencies from causing financial difficulties for you 

A budget can help you plan realistic financial goals for the future

A budget can help you grow your savings 

Character

Capacity 

Collateral 

(And according to our financial expert Mr. McDaniel, Cash) 

Silent alarms, time-vaults, police trained to know the location of banks in their district and arrive in under two minutes. 

Too many bad loans that are not paid back to the bank

poor credit history, not enough income, & lack of collateral

It is better to underbudget for entertainment because if you overbudget, you may be spending money that is needed on more important things such as food, transportation, rent payments, etc. Plus, if you underbudget for entertainment, you may save money that can be used later if not spent on entertainment.