Making a Budget
A plan for how you will use your money each month
What is a budget?
A safe place to keep your money
What is a bank
Borrowing money now and paying it back later
What is credit
Buying something because you really need it
What is a want
Putting money away for future use
What is saving
Money you earn from a job, allowance, or side hustle
What is income?
An account where you keep money you don't plan on spending right away
This happens when you pay back borrowed money over time, usually wih extra fees
What is a loan
Money taken out of your paycheck to pay the government
What are taxes
Putting money into something to try to make more money over time
What is investing
Money you spend on things like food, clothes, or games
What are expenses
Extra money a bank pays you for keeping your money there
What is interest
This three-digit number shows how responsible you are with borrowed money
What is a credit score
Buying something quickly without thinking about it first
What is impulse buying
This means your money grows over time because you leave it in a savings account
What is earning interest
This is the money you choose to set aside instead of spending
What is savings
A card that lets you spend money directly from your bank account
What is a debit card
Extra money charged to you when you borrow money
What is interest
Buying something quickly without thinking about it first.
What is comparison shopping
Owning a small part of a company
What is a stock
This kind of expense stays the same every month, like a subscription
What is a fixed expense
This fee may be charged if you spend more money than you have in your bank account
What is an overdraft fee
Paying only this small required amount on a credit card can make debt last longer
What is the minimum payment
This paper or digital form shows how much money you earned and how much was taken out
What is a pay stub
This long-term account is often used to save money for life after you stop working
What is a retirement account