Budgeting, Banking & Accounts
This plan helps you track income and expenses so you know where your money goes.
What is a budget?
This financial behavior occurs when people buy things based on emotion rather than need.
What is impulse spending?
This type of savings is meant to cover unexpected expenses like car repairs or medical bills.
What is 3–6 months?
A loan backed by something valuable like a car or home is called this.
What is a secured loan?
Paying more than the minimum payment helps reduce this long-term cost.
What is interest?
This account is typically used for paying bills and everyday spending.
What is a checking account?
This feeling of missing out can drive people to spend money they didn’t plan to.
What is FOMO (Fear of Missing Out)?
A goal that is Specific, Measurable, Achievable, Relevant, and Time-bound is called this.
What is a SMART goal?
Borrowing responsibly means making sure your monthly payment fits comfortably within this.
What is your budget?
Missing loan payments can negatively affect this important financial number.
What is your credit score?
This banking service allows you to check balances and transfer money online.
What is online banking?
The lowest hourly wage a employer can pay their employee.
What is the minimum wage?
This financial habit makes saving easier by removing the need to remember each month.
What is automatic transfers?
Lenders review this three-digit number when deciding whether to approve a loan.
What is a credit score?
Credit experts recommend keeping your credit card balance below this percentage of your limit.
What is 30%?
A good budget balances spending, saving, and paying for these
What are bills and expenses?
People often spend more when using this instead of cash because it feels less real.
What are cards (credit or debit cards)?
Writing down your financial goals increases the likelihood that you will do this.
What is achieve them?
This type of borrowing allows you to repeatedly borrow up to a limit and repay it.
What is revolving credit?
Combining multiple debts into one payment is called this.
What is debt consolidation?
This account is designed to help you set money aside and earn interest.
What is a savings account?
Feeling confident about managing your finances is often called this.
What is financial confidence or financial wellness?
Even saving small amounts regularly builds this important financial habit.
What is consistency?
In personal finance, this term describes a record of how well you manage your debts and repayments.
What is credit history?
This ratio compares how much debt you owe to how much income you earn.
What is debt-to-income ratio?