Debit Vs Credit
What is a Debit Card?
A card that uses money directly from your bank account
What is a Premium?
A regular payment to keep your insurance active.
What is Income?
Money earned from working.
What is a Budget?
A plan for how much money you will spend and how much you'll will save.
What is international trade?
Buying and selling of goods between countries.
What is a Credit card?
A card that allows you to borrow money and pay back with interst
What is Auto insurance?
Insurance that covers vehicle damage
What is an expense?
Money spent on goods and services
What is a fixed expense?
An expense that stays the same amount every time.
What are imports?
Goods brought into a country.
What is interest?
The fee charged for borrowing money on a credit card.
What is a Deductible?
The amount you pay before insurance covers the rest of the claim.
What are savings?
Money set aside for later use.
What is a Variable Expense?
An expense that can change each month like food.
What are exports?
Goods brought out of a country.
What is a credit score?
A number based on how responsible you are with your money.
What is Life insurance?
Insurance that provides financial need to your family after your death.
What is opportunity cost?
Giving up one option when choosing another.
What is the 50/30/20 Rule?
What is the World trade organization?
An organization that promotes global trade and sets rules.
What is APR?
Annual Percentage Rate
What is a Coverage Limit?
The max cost that your insurance will cover
What is Financial Planning?
Evaluating risks, returns, and future expenses to meet long term financial goals.
What is Zero Based Budgeting?
A budgeting method that uses all of your income without a dollar to spare.
What is Comparative Advantage?
Countries specializing in producing goods at a lower opportunity cost than each other.