Banks
An account that is used for purchases. Could be withdrawals of funds, debit card transactions, or checks.
Checking Account
What is a budget?
A plan to spend your money each month.
What card would you be using if you are borrowing money you do not have?
Credit
What is an example of a need?
Shelter, food, water, clothes, transportation
My family is on vacation so we are sticking to a....
Budget
An account for money to earn interest. Often used to store money for later use.
Savings Account
What is income?
What card is linked directly to your bank account, using money you have already have
Debit
What is an example of a want?
A video game, going to a concert, things that are not required to live. Typically things we enjoy
If an expense can be cut from your budget it is considered a?
Want
What is called when you put money into your bank account?
A deposit
What are expenses?
Money you are spending. Bills, wants, needs, etc.
What card has a PIN associated with it? You have to put the PIN in while making purchases using this card.
Debit
Give an example of a variable expense.
Gas
Groceries
Hobbies
Activities
Dining out
Doctor’s visits
Car maintenance
DoorDash/ UberEats
I lost my debit card. When should I cancel my card?
Immediately or pause it if that is an option with your bank if you think you might find it.
What is it called when you take money out of your bank account?
Withdraw
What are some ways to keep track of your budget?
Written, budgeting spreadsheet, apps or websites, such as mint, budget plus, etc.
Why do people have credit cards?
Boost their credit score, emergency option, can be easier to get money back if card is stolen and used opposed to a debit card.
True of false: All bills are due on the first of the month
FALSE each bill will have a due date on them.
What is it called when the bank alerts you that you are low on funds.
Low Balance Alert
What is the document called that outlines or summarizes deposits and withdrawals from your account?
Bank Statement
What is it called when someone does not keep a budget and spends more than they make? They go into....
Debt - money that is owed or due
Give an example of a fixed expense.
Subscriptions (Netflix, Hulu, X-Box)
Apple Music
Medical Insurance
Internet
Phone bill
Car payment
Car insurance
Someone calls me and says I owe them $300 dollars for a service that I never received or purchased. What is this called?
Scam
Who is the richest person in the world?
Elon Musk