Money Basics
Money you receive from work or other sources
What is Income?
What is a Debit Card?
These are things you must have to live, like food and shelter.
What is a need?
Using your money to help it grow over time.
What is Investing?
This person starts and runs a business.
What is an entrepreneur?
A plan for how to use your money
What is a Budget?
When you spend this card you are borrowing money from the bank
What is a credit card?
Money you set aside for future goals.
What are savings?
This is the extra money charged when you borrow money.
What is Interest?
The money left after subtracting your expenses from your income.
What is profit?
Knowing how to effectively make, spend, save, and invest your money.
What is Financial Literacy?
Money you borrow and promise to bay back
What is debt?
A plan for how you will spend and save your money.
What is a budget?
Buying a small piece of a company.
What is a stock?
Before starting a business, entrepreneurs try to identify one of these that customers have.
What is a problem (or need) to solve?
Something valuable that you own, such as cash, stocks or a house
What is an Asset?
Buying something without planning or thinking it through is called this.
What is an impulse purchase?
Money set aside for unforeseen circumstances and unexpected expenses.
What is an emergency fund/rainy day fund?
This type of investment is generally considered lower risk than stocks.
What is a bond?
The specific group of people a business wants to sell its products or services to.
Taking risks to solve problems by creating and managing a business.
What is Entrepreneurship?
This is what you give up when choosing one option over another.
What is opportunity cost?
What SMART stands for.
What is specific, measurable, actionable, time bound?
bonus points: who can explain each one (100 bonus)
This type of investing provides money to help new businesses grow.
An entrepreneur starts charging customers for a service to earn money. This is called ________.
What is monetization?