Money Basics
Money people earn from working.
What is income?
A place that keeps your money safe.
What is a bank?
Buying part of a company
What is stock?
The money a business earns after costs.
What is profit?
Money people pay to the government to fund services.
What are taxes?
The money you save for the future.
What are savings?
A small piece of plastic you use to buy things and pay later.
What is a credit card?
Saving money for the future to make more money.
What is investing?
The cost to buy something.
What is an expense?
A form you file each year to report income to the government.
What is a tax return?
The money you pay for goods or services.
What are expenses?
The score that shows how good you are at paying back money.
What is a credit score?
A safe place to keep money for long-term growth.
What is a savings/retirement account
A list showing what a company owns and owes.
What is a balance sheet?
Money given by the government to help people in need.
What is welfare?
When you spend more money than you have.
What is debt?
Money the bank pays you for keeping your money there.
What is interest?
A loan you give to a company or government they pay back later.
What is a bond?
People who start their own businesses.
What are entrepreneurs?
Tax taken directly from your paycheck.
What is withholding?
Money set aside for emergencies or unexpected expenses.
What is an emergency fund?
A fee you pay for borrowing money or for late payments.
What is interest/late fee?
When you spread your money across different investments to lower risk.
What is diversification?
A detailed plan that explains how a business will succeed.
What is a business plan?
The national debt is money owed by this group.
What is the government?