Budgeting
This is a plan for how you will spend and save your money.
What is a budget?
This account is commonly used for everyday spending.
What is a checking account?
Borrowing money with the promise to repay it later is called this.
What is credit?
Money set aside for unexpected expense is called this.
What is an emergency fund?
Buying part ownership in a company means purchasing this.
What is stock?
Money left after you subtract expenses from income
What is savings?
This account usually earns interest on your money.
What is a savings account?
Paying this bill on time helps build a good credit history.
What is a credit card bill?
A goal of saving enough money to cover several months of expenses.
What is an emergency savings fund?
A collection of many investimates bundled together.
What is a mutual fund?
This type of expense usually stays the same each month, like rent.
What is a fixed expense?
This machine allows you to withdraw cash without visiting a teller.
What is an ATM?
This three-digit number reflects reflects your creditworthiness.
Saving a little money every month demonstrates this financial habit.
What is consistency?
Investments are generally made with this goal.
What is growing wealth over time?
Groceries and entertainment are examples of this type of expense?
What are variable expenses?
This is the record of all deposits and withdrawals in your account.q
What is a bank statement?
This type of debt often has one of the highest interest rate.
What is credit card debt?
Buying something immediately instead of saving first is the opposite of this.
What is delayed gratification?
This describes the possibility that an investment and previous earnings is called this.
What is risk?
A common budgeting guideline suggest spending 50 % on needs, 30% on wants and this percentage on savings.
What is 20%?
Money earned by keeping funds in a savings account.
What is interest?
The amount a lender charges your for borrowing money.
What is interest?
Financial experts often recommend saving this many months of essential expenses for emergencies.
What is 3-6 months?
Earning returns on both your original investment and previous earnings is called this.
What is compound interest?