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Financial Literacy Needs and wants + Intro to Banking Flashcards | StudBud
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Financial Literacy Needs and wants + Intro to Banking
Financial Literacy Needs and wants + Intro to Banking
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Flashcards
9 cards
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Practice quiz
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Questions
9
Answers
1
What is the
definition
of a
bank
?
A bank is a place that doesn't safekeep people's money
A bank is a place where people spend lots of money
A bank is a place where people keep their money and use various services.
2
what is ONE of the different types of accounts that banks have?
Credit account
Debit account
Savings account
Checking account
3
Should you use the process of
Recordkeeping
to keep track of your money?
Yes
No
4
What does the word
Deposit
mean?
Adding money to a bank account
Saving money
Taking money out of a bank account
Spending money that is in your bank account
5
True or False? Keeping Track of money is very important
True
False
6
What is ONE of the 2 main services that banks offer?
Investing your money in different ways
Losing your money😭
Safekeeping Money
Growing the money amount in your account
7
True or False? Another service that banks offer is
Lending Money
through loans.
False
True
8
When going to the grocery store, should you be prioritizing your NEEDS or your WANTS?
dont prioritize your needs or your wants and buy 12 Teddy bears
your WANTS
your NEEDS
9
True or False: You should prioritize buying candy over basic things you need like food and water.
True
False
