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Basic Financial Literacy Terms Flashcards | StudBud
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Basic Financial Literacy Terms
Basic Financial Literacy Terms
10 terms
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Flashcards
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Questions
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Answers
1
What are expenses?
Your salary
items you save
items you purchase
money saved
2
What is a credit card?
Card that charges you interest
A card that doesn't require any payment
Card that lets you pay from your bank account
A card to help you save money
3
What is a debit card?
Card that you can't use at a bank
Card that charges you interest
Card that lets you borrow money
Card that takes money directly from your bank account
4
What is income?
money received
neither money spent or received
money spent
both money spent and received
5
What is a budget?
Plan to build a house
Spending when you feel like it
Spending with credit cards
Plan to help you organize your money
6
What is not an example of a tax?
income
sales
debit
property
7
What is debt?
Items you own
Money you owe
Money you saved
Money you invested
8
What is not an example of income:
tips earned at work
buying a car
an allowance from your parents
pay from your job
9
What is tax?
Money collected by the government
Borrowed money
Money earned by people
Money saved in a bank
10
What is interest?
Money spent when you first buy a house or car
A percentage of your house that you own
A percentage of your car that you own
A percentage paid on borrowed money
