Budgets
A plan for tracking your personal spending habits.
What is a budget?
This card is directly linked to your bank account and uses money you already have.
What is a Debit Card?
A payment service in Sweden that allows you to send and receive money from your bank.
What is Swish?
Food.
What is an example of a variable expense?
Roll sleeves, tie back hair, put on apron, wash hands, check the recipe.
What do you need to do before you can start to cook?
Income, Expenses, and Savings
What are 3 things you keep track of in a budget?
This card borrows money that you do not have, usually also requiring you to pay interest and fees.
What is a Credit Card?
These apps can be used internationally.
What are ApplePay and SamsungPay?
The name for income BEFORE taxes and other deductions are taken out.
What is Gross Income?
The person responsible for preheating equipment, using the correct tools for tasks, and checking that everything is clean before the team leaves.
Who is the Equipment Manager?
At least 3-4 times each month.
How often should you check your budget if you want to stay on top of your money?
Using these cards to make transactions (buy things) is quick and easy.
What is an advantage of using Debit and Credit cards?
They all require parent permission for anyone under 18.
What is true of all the payment apps we discussed (Swish, ApplePay, SamsungPay)?
Savings.
What is money that is set aside for future use?
Pinch the blade between your finger and thumb, using the knuckle and NOT the finger to press down when making a cut.
What is the proper way to hold a knife?
Start with your Income, then list needed / essential Expenses, then list wanted / desired Expenses, and finally planned Savings.
What is the process (steps) someone uses to make a Budget?
It is very difficult to track your spending since this payment method isn't tracked.
What is a disadvantage of using cash?
It is easy to track your spending as all the apps keep records of your purchases.
What is an advantage of using payment apps like Swish, ApplePay, and SamsungPay?
Fixed and Variable
What are the 2 types of Income and Expenses?
Food items you NEVER put down the sink, must always go in the Food Waste bin.
What are raw eggs, oil, butter, and flour?
A system for budgeting that uses percentages of income in a predetermined ratio.
What is 50/30/20?
Credit cards use money that comes from your bank account.
What statement is NOT TRUE about Debit or Credit cards?
ApplePay can be used on any phone.
What is something that is NOT TRUE about payment apps?
Salary, Allowance, Birthday Gifts
What are examples of sources of income?
Cleaning, Cooking, Cross-Contamination, and Chilling.
What are the 4 Cs of food safety?