Money Basic
What is Income?
Money you earn or receive
What is a Budget?
A plan for how to save/spend money.
What is the Gender pay gap?
The difference in earnings between men & women for some data.
What does it mean to invest?
To put money into something (like stocks or bonds) with the goal of earning a profit.
What is the name of the financial district street where the New York Stock Exchange is located?
Wall Street
Whats an expense?
Money you spend (Bills, cars, clothes, rent, food).
Name 1 thing you should include in a budget
Income or expense
What is the term for the difference in wealth between racial groups?
Racial Wealth Gap
What is a stock?
A share of ownership in a company.
What famous statue was a gift from France in 1886?
The Statue of Liberty
What does it mean to save?
To Keep money aside for future use.
Why is it important to track your spending?
To make sure you're not over spending + to save money.
What does the term economic mobility mean?
The ability of an individual or family to improve their economic status.
What is an index fund?
A type of investment that tracks a market index (like the S&P 500) instead of picking individual stocks.
What’s the only borough connected to the mainland U.S.?
The Bronx
What is a bank account?
A financial account maintain by a bank, credit, union, or other financial institution for a cost.
Whats a Need vs a Want?
Need things you need to live/Want necessities
What is the 1 reason women might have less money saved for retirement?
-Make less
-time out workforce
-caregiver
-b/c marriage or kids
What is the difference between a stock and a bond?
A stock is ownership in a company; a bond is a loan to a company or government that pays interest.
Which NYC bridge was once nicknamed the “Eighth Wonder of the World”?
The Brooklyn Bridge
What is Net Income?
The money you take home after taxes and deductions (a.k.a. “take-home pay”).
What is an emergency fund?
Money set aside to cover unexpected expenses, like car repairs or medical bills.
What is generational wealth?
Wealth passed down from one generation to the next, often through assets like property, investments, or savings.
What is compound interest?
Interest calculated on both the original amount and the interest already earned, causing growth to accelerate over time.
Which U.S. president was sworn in on Wall Street in 1789?
George Washington