Budgeting
What is a budget?
What is...A plan for how you will spend and save your money
What is an emergency fund?
What is...Money saved for unexpected expenses
What is a credit score?
What is a checking account generally used for?
What is...What is a checking account
A $50 shirt is on sale for 20% off. How much is the discount?
If you earn $2,000 per month and spend $1,500, how much money is left?
What is...$500
What is one good reason save money?
What is...emergencies, large purchases, education, retirement, or financial goals
What happens if you only make the minimum payment on a credit card?
What is...It can take a much longer to pay off the balance and cost more interest.
What is a savings account generally used for?
What is...setting aside money and earning interest
A $50 item is 20% off. What is the sale price before tax?
What is...$40
What does "needs vs. wants" mean?
What is...Needs are things necessary for living while wants are thing you would like but can live without.
What is...putting money intoo savings before spending the rest of your income.
Name one thing that can affect your credit score?
What is...payment history, amounts owed/utilization, length of credit history, new credit, or credit mix
What is an overdraft?
What is...Spending more money than is available in account
Store A sells a 12-pack of paper towels for $18. Store B sells a 6-pack for $10. Which has the lower price per roll?
*bonus if you can give me the exact amount per roll
What is...Store A
Store A = $1.50 per roll
Store B = about $1.67 per roll.
Which of these are a fixed expense: rent or groceries?
What is..rent
Why is starting to save early helpful?
What is...Your money has more time to grow?
Why is paying bills on time important for credit?
What is FDIC Insurance?
What is...Federal Insurance that protects eligible deposits are FDIC-insured banks
You have $100. You can buy a pair of shoes you need for $80 or a video game you want for $70. You cannot afford both. What should you consider before making the purchase?
What is...Your needs, available budget, upcoming expenses, and whether the purchase fits your financial priorities.
$500
Why is tracking your expense so important?
What is compund interest?
What is...interest earned on both the original money and previously earned interest
What is APR?
What is...Annual Percentage Rate, the yearly cost of borrowing money
What is the difference between a debit card and a credit card?
A debit card generally uses money from your bank account; a credit card involves borrowing money that you repay
A $200 item is discounted by 25%. You also have a $20 coupon that can be applied after the discount. What is the final price before tax?