BUDGET
When creating a budget, this is the money a person earns or receives, such as from a job, allowance, gifts, or other sources.
INCOME
A machine that lets you deposit or withdraw money from your bank account.
ATM
Money earned based on hours worked.
WAGE
Comparing prices at different stores before buying something.
COMPARISON SHOPPING
A person who starts and runs their own business.
ENTREPRENEUR
This is an expense is a cost that stays the SAME each month.
Examples:
FIXED EXPENSE
A secret number used to safely access money in your bank account.
PIN
This is a fixed amount of money a person earns each year, no matter how many hours they work each week.
SALARY
When comparison shopping, knowing how to figure out this can help you compare different sized products to see which one is actually the better deal.
UNIT PRICE
Money a business earns from selling products or services before expenses are taken out.
REVENUE
This is an expense is a cost that can CHANGE from month to month depending on how much someone spends.
Examples:
VARIABLE EXPENSE
This happens when someone spends more money than they have in their bank account.
The bank may still allow the purchase, but the account goes negative and the bank often charges an extra fee.
OVERDRAFT
If a job or school requires you to spend your own money on supplies or travel, you may receive this payment to help cover the cost.
STIPEND
A 20oz jar of popular skin serum made with octopus saliva costs $100.
What is the unit price, or cost per ounce?
Show your math
To find UNIT PRICE, 💲Total Price ÷ Number of Ounces
They would do: 100 ÷ 20 = 5
So:
The unit price is $5 per ounce.
Money left over after a business pays all of its expenses.
PROFIT
This is the amount of money left in an account or budget after money is added or spent.
THE BALANCE
This is the extra money banks or credit card companies charge when you borrow money and do not pay it back right away.
INTEREST
Money taken out of your paycheck by the government to help pay for things like schools, roads, and emergency services.
TAXES
You are shopping for Unicorn Glitter Shampoo 🦄✨
Find the unit price for each bottle to determine which is the better deal.
How would you figure out the unit price of both products? Which bottle has the LOWER unit price?
✅ Teacher Work
Bottle A:
12 ÷ 8 = $1.50 per oz
Bottle B:
15 ÷ 12 = $1.25 per oz
So:
Bottle B is the better deal.
A business owner signs this agreement to rent a building or office space for their business.
Money saved for surprises or unexpected events.
EMERGENCY FUND
Having a good one can help you buy a car, rent an apartment, or get lower interest rates on loans. The higher yours is, the more likely you are to get a loan.
CREDIT SCORE
Taylor earned $300 at work.
About 10% was taken out for taxes.
About how much money did Taylor actually take home?
Answer:
What is about $270?
At the restaurant AVID Café 🍔💸, your meal costs $35.50.
If you want to leave a 20% tip, how much money should you leave for the tip?
How could you figure this out in your head?
To find 20%.....
first find 10% (move the decimal over to the left)..
10% is 3.50, so 20% would be around 7$
This is property or equipment that has value and can help a business make money, such as a building, vehicle, or computer.
ASSET