History Unit 9 quiz 1

Proverbs 12:11

"Labor not to be rich: cease from thine own wisdom. Wilt not set thine eyes upon that which is not?"

Taxes (actual %)

20% of the budget

Housing and Utilities

25% to 40% of the budget

Savings

5% or more of the budget

Standard

A _______________________ item means that it comes with the car at no extra cost

Wholesale club

A _________________________________ is another type of business that eliminates the retail part of the transaction. Many times a consumer can buy items in bulk, or larger quantities than available in retail stores

Payee

A person to whom money is paid

Nehemiah 10:37

A tithing principle verse

1 Corinthians 16:2

A verse which could tell us of people givinf more than a 10% tithe

Better Business Bureau

Consumer "watchdog" assists the car buyer by reporting unfair business practices

Late fees

Here is a question any young person should ask themselves as they make a budget: Are my creditors charging me with ___________________________________?

Proverbs 3:9-10

Honor the Lord with your wealth, with the first fruits of all your crops; then your barns will be filled to overflowing, and your vats will brim over with new wine.

Middleman

If you buy items at a retail store, there is a bit of ___________________________ money that gets added on, meaning that money will not only go to the manufacturer, but also to the store that stocks and sells the product

Account numbers

Keep a list of your credit card _____________________________________,checking account information, and the telephone numbers of each credit card issuer in a safe place in case your cards or checks are lost or stolen

Bank balance

Keeping a ___________________________________ means you keep a current total of what you have deposited in your account as well as what you have spent in your account

Proverbs 23:4-5

Labour not to be rich: cease from thine own wisdom. Wilt thou set thine eyes upon that which is not? for riches certainly make themselves wings; they fly away as an eagle toward heaven.

non-sufficient funds

Notice sent to the customer if his deposits are not enough to cover the costs of the check he has written.

Steward

One who manages money or the affairs of another person is called a ________________________

Increase and savings

Proverbs 13:11- " Wealth gotten by vanity shall be diminished: but he that gathereth by labor shall _______________________." In other words, a person who tries to get money by fraudulent means will not get more, but the steady worker adds to his own _________________________.

Objective and subjective

Remember that buying a car should be __________________________, not ______________________________

processed

Series of actions which take the check from the merchant to the accounting centers of the bank

bank balance

The current money available in the depositor's account.

Gross income

Total money earned, exclusive of any deductions

Proverbs 13:11

Wealth gotten by vanity shall be diminished: but he that gathereth by labour shall increase.

Expenses and income

When you have all your income and expenses and want to I find out how much you left over, subtract the ____________________ from the ________________________ and see what comes on the "bottom line".

Total

When you sign receipts, draw a line through blank spaces above the __________________ so that nobody may add extra charges to your credit card receipt

Checks

Which is the best system for keeping track of your spending?

Option

Will cost you above the price of the car

Minimum Balance

the smallest amount allowed in an account without a financial penalty