Budget 1
A plan for spending and saving money each month.
Budget or Savings
Money earned through employment
Money you get paid.
Another word for WAGE
Income or Expense
Income
Money spent to buy goods and pay for services
Income or Expense
Expenses
Money put away into a bank to use for later or for an emergency
Savings or Spending
Savings
Items or things you would like to have but are not necessary
needs or wants
Wants
Things you must have to survive (food, water, shelter) or to have personal success. Is this WANTS or NEEDS?
Needs
An arrangement you make with your bank which allows you to keep your money in a safe place and take it out when you need it
a _________ ACCOUNT
Bank Account or Account Loan
Bank Account
Type of expenses that stay the same each month
Fixed expenses or Flexible (variable) expenses
Fixed Expenses
The total amount of money in your bank account
Bank loan or bank balance
Bank Balance
A bank account that you can usually take money from at any time
checking account or savings account
Checking Account
A bank account which you usually put money in for a longer period of time. It may earn interest.
It's where you put the rest of your money after all of your expenses.
Checking Account or Savings Account
Savings Account
A personal plastic card you use to get money from your bank account(s)
Credit Card or Debit Card
Debit Card
Type of expenses that change each month
Fixed expenses or flexible expenses (variable)
Flexible Expenses (or Variable)
A machine often found on a wall outside of a bank where you can withdraw from / deposit into your bank account
ATM or checking account
ATM – Automated Teller Machine
The money you put into your bank account
Withdrawal or deposit
Deposit
The money you take out of a bank account.
A Withdrawal or A deposit
Withdrawal
Money that you borrow that must be repaid
Loan or Draft
Loan
A 4 digit number to help you secure or verify your money at the ATM
PIN number or Bank Account number
PIN (Personal Identification Number)
A printed paper you get after you buy something
Check or receipt
A receipt
Money you pay to the government, from your pay check is called
Fine or Taxes
Taxes
If you start work at 9:00 am and get off at 1:00 PM, how many hours have you worked?
4 hours
If you leave at 8:00AM and it takes you 45 mins to walk to the bus stop what time will you arrive at the bus stop?
8:45 AM
If you work a 4 hour day and start at 12:00 PM, what time will you be off work?
4:00PM
Mr. Bob went to CVS to purchase a bottle of water. The water cost $3.98, he paid with a 10 dollar bill. How much change will Mr. Bob get back?
$6.02
Guideline used to budget for a place to live.
30% or 50%
30%