Saving and Investing
What is an emergency fund?
Money saved for unexpected expenses
What is budget
A plan for how to spend and save your money.
What is a checking account used for?
For everyday spending and paying bills
What’s the difference between saving and investing?
Saving keeps money safe; investing risks money to earn more.
What is the 50/30/20 rule?
50% needs, 30% wants, 20% savings.
What’s an overdraft fee?
A fee charged when you spend more than what’s in your account.
What is diversification in investing?
Spreading your money across different investments to reduce risk.
What is a checking account used for?
For everyday spending and paying bills.
What is direct deposit?
When your paycheck is automatically deposited into your bank account.