Budgeting Terms
What is a plan that helps you decide how to spend and save your money?
What is a budget?
This plastic or digital payment method lets you borrow money to make purchases.
What is a credit card?
You get $40 for your birthday. You spend $30. How much did you save?
What is $10?
Buying something just because your friends have it and are telling you should have it too is an example of this kind of pressure.
What is peer pressure?
This type of store sells many different kinds of products, such as clothing, shoes, beauty products, and home items, all under one roof.
What is a department store?
Money you spend on things is called this.
What are expenses?
Borrowing more money than you can afford to pay back can lead to this financial problem.
What is debt?
You want headphones that cost $80. You have $50. How much more do you need?
What is $30?
You want to buy a pair of sneakers, and two different stores sell similar pairs. What should you do before deciding where to buy them?
What is compare prices?
The day after Thanksgiving when you can find great bargains.
What is Black Friday?
This is money you set aside instead of spending right away.
What is savings?
Money you borrow and have to pay back is called this.
What is a loan?
You earn $15 per hour and work 4 hours. How much do you earn before taxes?
What is $60?
Saving money for unexpected problems, like a broken phone or emergency, is called this.
What is an emergency fund?
What is it when an item's price is lower than usual?
What is a discount/clearance sale?
Food, water, and a place to live are examples of these.
What are needs?
This is the extra money you may have to pay when you borrow money.
What is interest?
You have $100 and decide to save 10%. How much do you save?
What is $10?
You go to the store for one item but end up buying five things without thinking it through. This is called what?
What is impulse buying?
This is a code or paper offered by a store that can help you save money on a purchase.”
What is a coupon?
New video games and expensive sneakers are usually examples of these.
What are wants?
Paying your credit card bill late can hurt this three-digit number that represents your credit history.
What is a credit score?
You have $50. You spend $12 on food, $8 on a movie, and $10 on a game. How much do you have left?
What is $20?
You really want to buy a new video game, but you decide to save your money for a few weeks so you can afford something you want even more. What is this called?
What is delayed gratification?
You can get lower prices at stores if you have this.
What is a membership card/loyalty card?