Financial Literacy

Question 1

Money paid to others for their services.

Accepted Answer

Fee

Question 2

Money received from sources such as wages or salary, investments owned or government payments.

Accepted Answer

Income

Question 3

The loan of money from a bank, generally for the purchase of a house.

Accepted Answer

Mortgage

Question 4

The title given to a person who is employed for a wage or salary.

Accepted Answer

Employee

Question 5

A positive situation in a budget where receipts are greater than payments.

Accepted Answer

Surplus

Question 6

An aim or objective that a person desires to achieve within a given period of time.

Accepted Answer

goal

Question 7

A financial plan that shows expected future income and expenditure.

Accepted Answer

Budget

Question 8

An item that is necessary to survive everyday/basic life.

Accepted Answer

Need

Questions 8