Vocab
A tool or plan used to track income and expenses over a set period of time
What is public transportation?
A type of transportation that has the most scheduling flexibility
What is Personal transportation/private transport?
This 3-digit number, which ranges from 300 to 850, tells lenders how likely you are to repay borrowed money
What is a credit score?
If you spend your $5 allowance on a candy bar today, your opportunity cost is not being able to buy this other item at the store late
What is anything?
Buying this non-brand option at the grocery store usually gets you the exact same product for a much lower price
What is store brand?
Travel regularly back and forth between your home and your workplace or school
What is Commute?
These types of apps are common for transportation
What are Ride-share Apps?
This is the smallest amount of money you must pay on your credit card bill each month to avoid late fees
What is Minimum payment?
Buying a bicycle instead of a car saves you thousands of dollars, but the trade-off is losing protection from this during a heavy storm
What is the weather/rain?
The type of budgeting where you pay your bills first and then spend the rest of your money freely
What is the 'no-budget' budget?
A cost that stays the same every month, such as a car payment or an insurance premium
What is Fixed expense?
List the least to most Eco-friendly types of transportation in order
What are-
Personal
Ride-share
Public transit?
This specific fee represents the annual cost of borrowing on a credit card, expressed as a yearly percentage rate
What is Annual Percentage Rate (APR)?
If you spend $10 to go see a movie instead of working an hour at your job where you make $15, this money value is your opportunity cost
What is $15.00?
This 2-word phrase describes riding to work or an event with a neighbor or colleague, a common money-saving practice that cuts individual fuel costs and reduces emissions
What is Ride share?
The cost required for a ride on a shared transit vehicle such as a bus or train
What is fare?
Money the government gives to people with disabilities that affect driving
What is a public transportation stipend?
An agreement where a borrower receives goods, services, or money now, with the promise to repay the lender at a later date (with interest)
What is credit?
A city uses a vacant lot to build a new public park instead of selling it to a developer for a high-rise apartment building. The opportunity cost is this specific lost benefit
What is the value of the apartment building?
The opportunity cost of choosing to work instead of taking an unpaid day off
What is resting your mind/body?
The decrease in the value of an asset over time, such as a car losing its value as it ages
What is Depreciation?
The best type of transportation for a very low-income family
What is public transportation?
You use this card for daily use
What is a credit card?
Choosing to live in a suburban neighborhood gets you a bigger house for less money, but the daily opportunity cost is spending significantly more of your time doing this activity every morning and evening
What is commuting?
From Everybody Hates Chris, the tasty item that the family buys from the grocery store to save money
What is Cookie?