Saving & Spending
Money you keep for later instead of spending?
What is saving?
Money earned from working.
What is income?
A place where people keep and manage money.
What is a bank?
A lower price offered by a store.
What is a discount?
Question: Money people pay to help fund government services.
What are taxes?
A plan for how you spend and save money.
What is a budget?
Money earned before taxes are taken out.
What is gross income?
Extra money paid by the bank for keeping money in savings.
What is interest?
A paper or code used to save money while shopping.
What is a coupon?
Tax added when buying something at a store.
What is sales tax?
Something required for survival, like food or shelter.
What is a need?
Money you actually take home after taxes.
What is net income?
An account mainly used for spending money.
What is a checking account?
Something nice to have but not necessary.
What is a want?
A paper showing earnings and taxes taken out of a paycheck.
What is a pay stub?
Buying something quickly without planning ahead.
What is impulse buying?
A person who starts and owns a business.
What is an entrepreneur?
A card connected directly to your bank account.
What is a debit card?
The best way to avoid overspending at the store is to make one of these first.
What is a shopping list?
Paying bills on time helps improve this number.
What is a credit score?
Choosing one thing over another because you cannot have both.
What is prioritization / opportunity cost?
Skills like teamwork, communication, and responsibility are called these.
What are soft skills?
Money borrowed that must be paid back later.
What is a loan?
Money spent on goods or services.
What is an expense?
Name 2 financial aid options to get money for college.
FAFSA/Grant/Scholarship/Loan/Work-Study/Work