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6th Grade Financial Literacy Flashcards | StudBud
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6th Grade Financial Literacy
6th Grade Financial Literacy
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Flashcards
26 cards
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Questions
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Answers
1
A loan to buy real estate
Rent
Mortgage
2
When you put money IN your bank you are making a:____________?
ATM
Transfer
Withdrawal
Deposit
3
Rob writes a check but he doesn't have enough money in his account to cover the purchase. Which fee will he be charged?
ATM fee
Cash back fee
Canceled check
Overdraft fee
4
Which of the following is NOT associated with your bank account?
Your checkbook
Your debit card
Your credit card
Your PIN number
5
One benefit of cash is _______________
It is accepted by almost everyone
It can't be destroyed
It's nonflammable
It can't be stolen
6
Joe moved money from his checkings to savings account. What type of transaction did he make?
Transfer
Withdrawal
Deposit
Interest
7
Money earned by working or investing
Budget
Income
Debt
Expense
8
What is a bounced check?
Accepted check
A method of payment that's made of rubber
Unaccepted check due to insufficient funds
A hot new dance craze
9
What do you call someone who spends money?
Spender
Giver
Consumer
Lender
10
A credit card is the same thing as a debit card
False
True
11
What's the difference between debit and credit?
Debit can be used to buy things while credit is only used to buy a house
They are both exactly the same thing
Debit uses a checkbook while credit uses a card
Debit is your money while credit is borrowed money that must be paid back
12
The money you spend on needs and wants
Savings
Budget
Income
Expenses
13
An arrangement that allows you to buy goods and services now and pay later
Income
Debit
Credit
Sales Tax
14
Credit, Debit, OR Both?
BOTH
CREDIT
DEBIT
15
An amount of money owed
Cash
Debt
Expense
Income
16
For added security, a PIN is needed to make purchases with a debit card
True
False
17
What does ATM stand for?
Automated Teller Machine
Automated Time Machine
Automatic Talking Markets
Actual Toddler Machine
18
What does it mean to live within your means?
Spend ALL your money!!!
Go on a shopping spree.
Do not spend money that you do not have.
Never buy anything.
19
Credit, Debit, OR Both?
DEBIT
BOTH
CREDIT
20
What does PIN stand for?
Personal Identification Number
Pudding is noice
Pi is Not covered in 6th grade math
Payment Initiated Numbers
21
Credit, Debit, OR Both
BOTH
DEBIT
CREDIT
22
Answer the following question
Transaction Fee
Negative Balance Fee
Overdraft Fee
Interest Fee
23
A record of income and expenses that can help you maintain cash flow
Budget
Check Register
math textbook
Tax form
24
Answer the following question.
Interest
Transaction
Check Return Fee
Overdraft Fee
25
You are making a ____________ when you take money OUT of your bank account.
Withdrawal
Tranfer
ATM
Deposit
26
An overdraft fee is money you pay when you spend _______ money than you have in your account.
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