Budgeting Basics
A plan for how you earn, spend, and save money.
What is a budget?
This professional joins metal parts together using heat.
What is a welder?
An account used primarily for spending and paying bills.
What is a checking account?
Money borrowed that must be repaid.
What is credit?
Money that you put aside with the goal of growing it over time.
What is an investment?
You earn $4,000 and spend $3,750. What is left?
What is $250?
True or False: Every career requires a four-year college degree.
What is False?
A person who keeps money in a bank is called this.
What is a customer (or account holder)?
The extra money paid for borrowing money.
What is interest?
Owning a small piece of a company through an investment is called owning this.
What is stock?
Money you spend on goods and services.
What are expenses?
This person creates and writes software programs.
What is a computer programmer/software developer?
The habit of saving before spending is often called this.
What is paying yourself first?
A card often used to make purchases before paying later.
What is a credit card?
True or False: All investments make money and never lose value.
What is False?
If your income is greater than your expenses, you have a budget ____.
What is a surplus?
This professional designs buildings and structures.
What is an architect?
Money saved for emergencies is called this.
What is an emergency fund?
Paying bills on time helps build this.
What is good credit?
This is the chance that an investment could lose value or not perform as expected.
What is risk?
If your expenses are greater than your income, you have a budget ____.
What is a deficit?
This scientist studies weather patterns and forecasts.
What is a meteorologist?
True or False: Banks charge you interest for keeping money in a savings account.
What is False?
Borrowing too much money can create this budget problem.
What is debt?
A student invests $100 and later has $120. The amount earned is called this.
What is a gain (or profit/return)?