Credit
what do you call something you use to borrow money to pay for something now and pay it back later.?
Credit
What is a budget?
A plan for how to spend and save money.
A safe place to keep your money.
A Bank
This type of insurance helps pay for visits to the doctor or hospital.
Health Insurance
"But mom I have to go see them!! They're my favorite artist!!!"
Is this labeled as NEED or WANT?
Want, she does not need to go to the concert.
What is a credit card?
A card that lets you buy things now and pay later with borrowed money.
What are the two main parts of a budget?
Income and expenses.
A small book or account that helps you save money over time.
Savings Account
This type of insurance helps fix your car if you get into an accident.
Car Insurance
Money is a Need or Want?
Need, you need money to survive.
Who gives you credit?
A bank or a lender.
If you spend more money than you earn, what is that called?
A deficit.
You use this account when you spend money using checks or a debit card.
Checking Account
This type of insurance helps repair or replace your house if something like a fire happens.
Home Insurance
Jenna’s shoes have holes in them, but she wants to buy a new video game instead of new shoes. What would be the better choice, and why?
Jenna should buy new shoes because she needs to replace the ones with holes in them. The video game she wants is not important.
True or False: Credit is free money.
False. You have to pay it back, usually with interest.
What do we call the money you receive from doing chores or a job?
Income.
This card takes money directly from your bank account.
a Debit card
This type of insurance gives money to your family if something happens to you.
Life Insurance
Air, shelter, and food are all examples of a Need or Want?
Need, those are things you can't live without.
What happens if you don’t pay back your credit?
You may owe more money and hurt your credit score.
What does it mean to "live within your means"?
To spend only what you can afford.
This machine gives you money from your bank account when you insert your card.
ATM
The money you pay each month to have insurance is called this.
A Premium
What is the difference between a Need and Want?
A Need is something that is necessary and can be something you can't live without.
A Want is something that is not important and is something that is not essential