Budgeting
What is a budget?
A plan for managing money
What is a checking account used for?
Everyday spending
What is a credit score?
A number showing how you manage money
What does FAFSA stand for?
Free Application for Federal Student Aid
What degree is earned at a 4-year college?
Bachelor’s degree
What is income?
Money you earn
What is a savings account used for?
Saving money
Why is a credit score important?
Used for loans, apartments, etc.
Which aid is free money?
Grants or scholarships
One benefit of community college?
Lower cost
Name one fixed expense.
Rent / car payment / insurance
What does a debit card use?
Your own money
What is interest?
Cost of borrowing money
Which must be repaid?
Loans
What do trade schools focus on?
Hands-on skills
Name one variable expense.
Food / gas / entertainment
What does a credit card use?
Borrowed money
Name one factor that affects credit score.
Payment history / debt
What is work-study?
A job while in school
What is an apprenticeship?
Learning while working
Give two reasons budgeting is important.
Helps save money, avoid debt, plan ahead
What is the difference between debit and credit?
Debit = your money
Credit = borrowed money
Is a higher or lower credit score better?
Higher
Why is FAFSA important?
Determines financial aid eligibility
Name one factor when choosing a path.
Cost / time / interests / salary