Category 1
The monetary principles and beliefs that are important to us.
What is Value?
The principles that guide a person's actions, decisions, and goals.
What is Personal Value?
Those items that improve your quality of life but aren't necessary to have in your budget.
What is Wants?
Items that you have to have to live.
What is needs?
Expenses that changes from time to time.
What is Variable Expenses?
A way to manage finances to save money.
What is Budget?
A set payment from an employer to an employee.
What is Salary?
What you must pay to buy something like daily needs.
What is Expenses?
Money received as wages or salaries or even tips.
What is Income?
A bank account you use to save money you would like to spend in the future.
What is a Savings Account?
An account where you can spend money by writing checks.
What is Checking Account?
When you take out more money than you actually have?
What is an Overdraft?
The fee you have to pay when you withdraw too much money.
What is overdraft fee?
The person who hires people.
What is an Employer?
A person who is employed for wage/money.
What is an Employee?
When you spend your money, it’s immediately subtracted from your bank card account.
What is Debit Card?
A written and signed document to pay a bill.
What is a Check?
The bank money that you have to pay back when you make a purchase.
What is a Credit Card?
To take money out of an account.
What is Withdrawal?
To put funds/money into a bank account.
What is Deposit?
A payment to support a student's learning experience is usually based on academics or sports or other achievements.
What are Scholarships?
A fixed normal payment is usually paid on a weekly and or daily basis by a boss usually to unskilled workers.
What is Wage?
An agreement between customer and seller to trade goods and or services.
What is a Transaction?
What is left after you have paid your expenses and you don't owe anything else.
What is Networth?
What you owe.
What is Liability?