The Basics
Video games, TVs, pets, and other things you don't need to survive.
What is a want?
To take a good guess, especially on cost.
What is estimation/rounding?
A place you might go to (in-person or online) that deals with your money. This can be two things.
What is a bank and ATM?
A plan to help you sort out your finances. You won't "B"elieve how helpful this can "b"e.
What is a budget/budgeting?
Food, water, medicine, clothes and other purchases that you can't live without.
What is a need?
This is money you earn from your parents/guardian - usually for doing chores.
What is an allowance?
You might do these two things when you go to the bank. They start with a 'D' and a 'W'.
What is making a deposit or a withdrawal?
You don't want to be in this situation. It will "negatively" affect your financial situation and life.
What is to be in debt?
Green paper or 'metal' coins that help with everyday life.
What is money/cash?
This is money you earn from a job.
What is an income?
You might open this at the bank, which will help you grow your money over time.
What is a savings account?
You'll want to spend more money on one of these over the other. Usually a budget will have both categories.
What is wants vs. needs?
A piece of paper that should have information such as "pay to the order of", the amount ($), the memo, and a signature.
What is a check/cheque?
This will cost you money. I (e)xpect it will involve a great many things.
What are expenses?
You can open this at your bank, and it is used for everyday purchases.
What is a checking account?
You'll definitely need one of these just in case of any future disasters or " ".
What is an emergency budget?
There are two kinds of these: one is your own money and the other is borrowed money.
What is a debit or credit card?
This will help you grow your money and you might not touch it for awhile.
What are savings?
You can check this online or in person. Either way, you'll be able to see your balance, such as deposits or withdrawals.
What is a bank statement?
This is the best place to put your money for future use. No, it is not under your bed or in the closet.
What is a savings account?