Budget
A plan for how you will earn, spend, and save your money.
Budget
Bank
A financial institution that holds money, provides loans, and offers financial services.
Stock
A share representing partial ownership in a company.
You earn $2,000 per month before taxes. What is this called? ________ income
Gross Income
What is the study of how people use limited resources to satisfy their wants and needs.
Economics
Money that a person receives from working, investments, or other sources.
Income
Checking Account
An account used for everyday spending and paying bills.
Share
One unit of ownership in a company.
Your rent is $900 every month. What type of expense is this?
Fixed Expense
The condition of having limited resources but unlimited wants.
Scarcity
Expense
Money that a person spends.
Savings Account
An account used to store money and typically earn interest.
Stock Market
A marketplace where investors buy and sell shares of publicly traded companies.
Your electricity bill changes every month. What type of expense is this?
Variable Expense
The next-best option you give up when making a decision.
Opportunity Cost
A cost that generally stays the same each month, such as rent or a car payment.
Fixed Expense
Debit Card
A card that takes money directly from your checking account when you make purchases.
A person who puts money into something with the expectation of earning a return.
Investor
You save $500 for unexpected car repairs. What type of fund have you created?
Emergency Fund
Giving up one thing to get something else.
Trade-Off
Variable Expense
A cost that changes from month to month, such as groceries or electricity.
Credit Card
A card that allows you to borrow money to make purchases and repay it later.
Stock Exchange
A marketplace where stocks are bought and sold, such as the New York Stock Exchange.
You deposit $1,000 and earn interest on both the original deposit and previous interest. What type of interest is this?
Compound Interest
The amount of a product or service that sellers are willing and able to sell.
Supply