Banking
A place where you can keep your money safe, earn interest, and borrow.
What is a bank?
A plan for how you spend and save your money.
What is a budget?
When you borrow money and promise to pay it back later.
What is credit?
Using your money to buy things like property or stocks that can grow in value over time.
What is investing?
A wat to protect yourself from big financial losses by paying a small amount regularly.
What is insurance?
A bank account that earns interest and helps you save money over time.
What is a savings account?
Why is budgeting important?
Helps you make sure you don’t run out of money and can reach your goals.
It lets you buy things now and pay for them later, usually with interest if you don’t pay it all back quickly.
What is a credit card?
A small piece of a company that you can buy. If it does well, it can become more valuable.
What is a stock?
What is the reason for insurance?
To help pay for unexpected things like car accidents, illnesses, or home damage.
Used for daily spending, you can write checks or use debit card to make purchases.
What is a checking account?
Studies how people make money decisions, often in ways that aren’t logical.
What is behavioral economics?
A number that shows how good you are at paying back money you borrow.
What is credit score?
A loan you give to a company or government, and they pay you back with interest.
What is a bond?
The amount of money you pay regularly for insurance.
What is a premium?
Money you borrow from the bank that you agree to pay back over time, usually with interest.
What is a loan?
Why do people overspend?
People overspend because of emotions habits or wanting instant rewards.
What does good credit help you with?
Good credit helps you get loans, rent apartment, or even get a job more easily.
The chance that you could lose money instead of making money.
What is risk in investing?
An amount of money you have to pay yourself before insurance helps cover the rest.
What is a deductible?
Money the bank gives you for keeping your money with them, or charges you when you borrow money.
What is interest?
How can you use behavioral tricks to budget better?
You can set automatic savings, use cash instead of cards, or break goals into small steps to stay on track.
What happens if you don’t pay your credit bills?
If you don’t this then you can owe more money, hurt your credit score, and even face legal trouble.
Why people invest?
People invest to grow their money over time and reach goals like buying a house or retiring comfortably.
Common types of insurance?
Health insurance, car insurance, home insurance, and life insurance.