A budget is a plan giving an estimate of

income and expenses in a specific period of time

Checking accounts are useful and safe because they

allow you to pay bills through the mail

Financial Literacy is when you can

find and use financial information

Flexible expenses are those expenses that

can go up or down based on useage

To balance your checkbook means to

see if you and the bank agree on your balance

To post-date a check means to date it

dated after the date given to payee

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Financial Literacy Vocabulary-Hands On Banking

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Financial Literacy vocabulary

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Questions 15

Answers

1
The routing number on the bottom of your check is used for
identifying your payee
identifying your bank
identifying the amount to withdraw
2
A budget is a plan giving an estimate of
planned giving for holidays
income and expenses in a specific period of time
monthly expenses and payees
3
Money is a measure of ___________ of goods and services in an economy.
history
value
location
4
The person writing a check is known as the
customer
payor
payee
5
A savings account is in a local bank and is useful because
you can save up for big items
you can withdraw at any time
you can save money and earn interest
all the above
6
ATM abbreviation stands for
Audio Tutor Machine
Automated Teller Machine
Actual Total Makeover
7
Checking accounts are useful and safe because they
allow you to do gardening
allow you to pay bills through the mail
allow you to earn points for traveling
8
A deposit in your checking or savings account is done
using a deposit slip
wearing a fireproof jacket
writing a check
9
Financial Literacy is when you can
use currency to pay bills
identify the role of banks
find and use financial information
10
Flexible expenses are those expenses that
can not change due to agreements
are things such as rent that don't change
can go up or down based on useage
11
Fixed expenses are things that remain the same monthly such as
phone and data useage costs
rent or mortgage payments
food
12
To balance your checkbook means to
see if your payee has received your check
see if you and the bank agree on your balance
see if you have paid the vendor
13
A Payee on a check is the person who
the check is written to.
the bank who holds the account.
the check was signed by.
14
Discretionary expense is the type of expense that
all the above
be for things you love to do
be as small as you choose
can be as big as you choose
15
To post-date a check means to date it
long before it is given to the payee
dated after the date given to payee
with the date you think it will be cashed</p>

Financial Literacy Vocabulary-Hands On Banking Flashcards | StudBud