Budgeting Basics
This is a plan for how you spend and save money.
What is a budget
A safe place where people keep and manage their money.
What is the bank
Borrowing money now and paying it back later is called this.
What is Credit
A number that shows how responsible you are with borrowing money.
What is a Credit Score
A smart rule: only charge what you can do this with later.
What is Pay it Off.
Money you receive such as allowance or paycheck is called this.
What is income
Money you put into a bank account.
What is a Deposit
This is a card that lets you borrow money to pay for items.
What is a Credit Card
Paying bills on time helps do this to your credit score.
You should use your credit card for this reasons.
What is Big Purchases, Emergencies, to Build your Credit
Money you spend on things like food or clothes is called this.
What are expenses?
Money you take out of a bank account.
What is a Withdrawl
Extra money you pay for borrowing money is called this.
What is Interest.
Late or missed payments will do this to your credit score.
What is Lower it.
Using too much of your credit limit is what?
What is Risky, Bad, Not Smart.
If you spend less than you earn, you can do this with your money.
This allows you to use money from your checking account to pay for things.
What is a Debit Card
These are forms of Credit
What is Credit Cards, Loans, Car Payments, Student Loans, AfterPay, Klarna
Lenders use this number to decide if they will lend you money.
What is your Credit Score.
Using a credit card for wants you cannot afford can lead to this problem.
What is Debt
Choosing not to buy something you want now so you can save for something more important later.
What is Self Control
A bank account commonly used for car repairs, pay for vacations, "rainy day fund" something you really needs and or want.
What is saving account.
If you spend more money than you earn, you are doing this.
What is Over Spending.
This habit is one of the MOST important ways to keep a good credit score.
What is Paying Your Bills ON TIME
Charging too close to your credit limit can hurt this.
What is Credit Score.