Personal Finance
What is a budget?
A list of income and expenses during a period of time
What is an investment?
A place to put money that expects more money in the future
How much is the average price of a used car?
$32,342
What is a savings account?
An account at a bank that holds money and provides modest interest
What is a credit card?
An instrament that allows you to puchase something on credit
What is debt?
Owing money for a good or service received, but not paid for
What is a stock?
A partial ownership of a company
What's the average price of a home in Utah?
$574,570
What is a checking account?
An account at a bank that allows for deposits and withdrawals
What's a debit card?
An instrument that allows you to puchase using money in your checking account
What is credit?
The ability to borrow money that you'll pay back later
What is a bond?
A small loan made by an individual to a company or the goverment that is paid back with interest
What is the average salaray of an NBA basketball player?
$8.5 million
What is an interest rate?
The % of money owed for a loan during a period of time
What is crypto currency?
A digital asset that isn't held in a bank or regulated by a government
What is a mortgage
A special type of loan to purchase a home
What is a mutual fund?
A group of stocks that are invested in together
What's the average salary in Utah?
$43,132
What is a loan?
Money or property given to another in exchange for future payment with interest
What is the Federal Reserve Bank?
A bank owned by the US government that helps manage policy about money
What is compound interest?
Earning or paying interest on interest
How does the stock market work?
It's like a store where people can buy and sell stocks
What is the average amount spent on groceries per month per person?
$316
How does a bank make money?
They loan out other people's money and charge interest
What is the US Department of Treasury?
They print money