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Money Management Flashcards | StudBud
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Money Management
Money Management
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Money management and BMA_IBT
Flashcards
17 cards
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Questions
17
Answers
1
In writing a check, if you do NOT write in the signature part of a check, the check is invalid.
false
true
2
A direct deposit is also known as (AKA) Automatic Clearing House (ACH).
false
true
3
Commercial banks and are protected under the _____ insuring deposits up to $250,000.
Federal Deposit Insurance Corporation (FDIC)
National Credit Union Share Insurance Fund (NCUSIF)
4
You have a Scana gas bill that changes every month. This expense is called a
fixed expense
variable expense
5
You have rent of $800 every month. This expense would be considered a
fixed expense
variable expense
6
A budget is a _____for spending and saving money
plan
method
opportunity
report
7
Your net income is
all of the selections
usually more than your gross income
the amount after all taxes and deductions are taken out
the money you get before any deductions
8
Expenses are anything you spend money on, from a pack of gum to your monthly cellphone bill.
true
false
9
PYF stands for
Pay Yourself First
Payment Yourself First
Place Yourself First
I don't know
10
Credit Unions depositors are protected under the ______ insuring deposits up $250,000.
National Credit Union Share Insurance Fund (NCUSIF)
Federal Deposit Insurance Corporation (FDIC)
11
I am a form that tells your employer how much to withhold from your paycheck for taxes
W-2
Child support
W-4
Social Security
12
I am an expense that can change month to month
fixed expense
variable expense
13
In a checking account, this increases the value of the balance.
debit
credit
14
You have a rental bill for the same amount every month. This is considered a * expense.
variable
fixed
15
You just bought a house, this property is considered a(n) _____.
liability
asset
16
A payment type similar to a debit card that allows you to make electronic purchase
ATM card
account number
credit card
checking account
17
I am anything of value that is owned by an individual.
asset
investments
budget
net worth