Money Basic
This is the money you earn from doing a job, chores, or selling something.
What is Income?
A plan that shows how much money you have and how you will spend or save it.
What is a Budget?
The difference between how much money a person makes and what they actually keep after taxes.
What is Take-Home Pay?
Buying a small piece of a company because you think that company will do well.
What is a Stock?
The street in Manhattan where the famous New York Stock Exchange is located.
What is Wall Street?
This is money you spend on things you need or want.
What is an Expense?
Food, water, and a place to live are examples of this category of spending.
What are Needs?
What is the term for the difference in wealth between racial groups?
Racial Wealth Gap
Using your money to buy things that you hope will make you even more money in the future.
What is Investing?
The name of the big green lady in the harbor who was a gift from France.
Who is the Statue of Liberty?
When you put money away to use later instead of spending it now.
What is Saving?
Why is it important to track your spending?
To make sure you're not over spending + to save money.
When families pass down money, businesses, or homes to their children and grandchildren.
What is Generational Wealth?
This "magic" happens when your saved money earns interest, and then that interest earns interest too!
What is Compound Interest?
This borough is the only one physically attached to the mainland United States.
What is the Bronx?
What is a bank account?
A financial account maintain by a bank, credit, union, or other financial institution for a cost.
This is a stash of money saved specifically for "just in case" moments, like a broken bike.
What is an Emergency Fund?)
What is the 1 reason women might have less money saved for retirement?
-Make less
-time out workforce
-caregiver
-b/c marriage or kids
Instead of buying just one stock, you buy a "sampler platter" of many different companies at once. (Answer:)
What is an Index Fund or Mutual Fund?
This famous bridge was the first to be built using steel wires and connects Manhattan to a borough nearby.
What is the Brooklyn Bridge?
This is the habit of putting money into your savings account before you spend a single cent on toys or snacks.
What is "Paying Yourself First"?
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.
The saying "Don't put all your eggs in one basket" refers to this investing strategy.
Answer: What is Diversification?)
This man was the very first U.S. President to be sworn in right here in NYC in 1789.
Who is George Washington?