money paid to you by your bank to use your money

If your checking balance does not agree with the bank statement

stop writing checks and find out what's wrong

"Pay yourself first" means

Put $ in account when you get paid each month

hasn't cleared the bank by the time you receive your stament

When you reconcile your account you..

compare your statement with a check register

A debit or withdrawal is

subtracting money from your account

A check register is to

keep track of money in your account

the money you have left in your checking account

How do you sign your name to a check?

as you signed the bank signature card

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Money and banking

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Questions 27

Answers

1
When you buy something without a thought or plan it's
impulse
wants
resources
needs
2
paper money is called
coins
overdrafts
currency
checks
3
Interest is
money you earn at a job
a tax from the bank
money paid to you by your bank to use your money
nothing to worry about
4
Not knowing how to manage your money could result in
not be able to get a credit card
all of this is possible
not being able to get a car loan
bankruptcy
5
Resources are
all of these are resources
time
energy
knowledge and skills
6
If your checking balance does not agree with the bank statement
continue to write checks and hope they don't bounce
change your account to match the banks
ignore it, it'll go away
stop writing checks and find out what's wrong
7
"Pay yourself first" means
make a budget for your wants only
always pay bills on the first of the month
Put $ in account when you get paid each month
8
To open a checking account you must
be at least 18 years old
already have a lot of money
have a social security number
deposit at least $50
9
An outstanding check
is not written correctly
hasn't cleared the bank by the time you receive your stament
bounces from insufficient funds
10
When you reconcile your account you..
add all the deposits in your register
compare your statement with a check register
add $ to your account
stop all banking
11
A deposit slip is used
keep track of your money
withdraw money
put money into an account
12
A debit or withdrawal is
adding money to your account
subtracting money from your account
when a bank loans money
when you loan someone money
13
Metal money is called
balance
coin
edorsement
currency
14
To set up a budget
keep a written cash flow
all of them
list expenses for needs
list expenses for wants
15
Writing checks when you don't have enough money to cover them can result in
charge from the store that you wrote the check at
a charge from the bank
all of these can happen!!
jail sentence
16
A check register is to
take money out of your account
put money in your account
keep track of money in your account
17
aims or purpose towards which a person works
resources
goal
impluses
18
Something you must have to live is/are
budgets
wants
needs
priorities
19
Putting money in your bank account is called
depositing
withdrawling
crediting
20
Something you would like to have is a
need
want
21
A plan for using and saving money is
resources
currency
overdrafts
budget
22
A balance is
a charge from your bank
the money you have left in your checking account
a plan for money management
23
How do you sign your name to a check?
like your birth certificate
nickname from friends
as you signed the bank signature card
24
Checks that have been paid to the bank are...
canceled
still in the check book
post dated
outstanding
25
A check that is written for an amount larger than the account balance is
OK
post-dated check
an outstanding check
an overdraft
26
If your check book register doesn't balance
deduct the service charge
check to see if there are outstanding checks
all of these
recheck your math
27
Which sounds like it may be a CON
feel rushed to make a decission
instant relief, or amazing results
all are possible
too good to be true

Money and banking Flashcards | StudBud