Banking
Deposit
Putting money into a bank account as a form of payment
Budget
A plan for using money that involves a statement of estimated income and expenses for a period of time.
Debit Card
A plastic card linked to a bank account. Can be used to deposit and withdraw money from a bank account and make purchases at stores
Income
Money received for doing a job (ex. Mowing yards) or profit earned from a business
How many legs does a dog have?
4
Withdrawal
An act of taking money out of an account
An example of something you're saving for
anything!
Expense
Money you pay out for things (ex. Buying a ticket to a movie)
What is the colour of a 100 dollar bill
brown or gold
How many feet are in a mile?
5,280 feet
Debit Card
A card used to purchase items and have the money taken out of your checking account
Savings Goal
A goal that allows you to progress toward what you want
Want
Wants are desires for goods and services we would like to have but do not need
$1400 or more
How many bones are in the human body?
206!
ATM
Electronic banking outlet that allows customers access cash.
Savings Account
An account at a bank someone stores money in.
Need
Needs are a special kind of want, and refer to things we must have to survive, such as food, water, and shelter.
Is a video game a want or a need?
want
How many hearts does an octopus have?
3!
Checking Account
A checking account is a type of bank account that allows you to easily deposit and withdraw money for daily transactions
If you receive $5 a week in allowance and you're saving for a $100 bike, how long do you have to save your allowance for?
20 weeks which is 5 months.
Consumption
The use of goods and services by households
Credit Card
A card used to borrow money from a financial company in order to purchase an item
What is the rarest M&M colour?
Brown