Budgeting
A spending plan for managing money during a given period of time used to record income and expenses
What is a budget
Costs that arise from unexpected circumstances
What are unexpected expenses
These types of cards allow you to spend your own money by directly withdrawing from your bank account
What is a Debit Card
This helps to pay for hospitalization, preventative care, and treatment of illnesses and accidents
What is health insurance
Expenses that are the same each month, such as rent, a car payment, or student loan payment.
What are fixed expenses
A specific goal such as saving for college or a car, which motivates people to manage money responsibly, budget effectively, and invest for future.
What are financial goals
This payment type allows you to pay for goods and services using your smart phone
What is Apple Pay (or Google Pay)
This helps to pay to fix your car if you are in an accident
What is car (or auto) insurance
Expenses that can change from month to month, such as electric bill, groceries, and entertainment
What are variable expenses
An unexpected situation you may need to use savings for, such as the loss of a job or a large expense such from a car accident
What is an emergency
These types of cards allow you to borrow money to spend
What are credit cards
The possibility of financial loss or physical harm
What is risk
The amount remaining in your budget after all the expenses are deducted from the total available funds
What is the balance
Experts recommend having at least 3 months' living expenses saved for unexpected expenses in this type of fund
What is an emergency fund
This app allows you to send or request money directly between friends and family.
What is Venmo (Other Acceptable Answers: What is Zelle; What is CashApp)
Predicting and minimizing the chance of financial loss, often by purchasing insurance.
What is risk management
The income remaining after deduction of taxes, other mandatory charges, and spending on necessities.
What is discretionary income
The costs to participate in extracurricular activities such as sports, clubs, and other activities and events
What are extracurricular expenses
"Hard Dollars" - this paper or metal can be exchanged for goods and services
What is Cash
If you are sick or injured and unable to work, this can help you pay your monthly bills until you are healthy enough to return to work
What is disability insurance