Work
Money you earn from work.
What is income?
When you spend money on something, it's this.
What is an expense?
A safe place to store your money.
What is a bank?
An account that is a safe place to store your money.
What is savings?
Money you owe to someone else.
What is debt?
Money the government charges you for buying things.
What is sales tax?
A plan that helps you buy what you need or save money.
What is a budget?
When you put money into an account.
What is deposit?
How much money should you have in an emergency fund?
What is 3 to 6 months of expenses?
Money you borrowed from someone else.
What is loan?
What is a paystub?
An expense that does NOT change.
What is a fixed expense?
When you take money out of an account.
What is withdrawal?
A savings account for when you are old and done working.
What is a retirement account?
What is the name of the score that impacts your ability to get a credit card or loan?
What is a credit score?
A savings account for when you are old and done working.
What is a retirement account?
An expense that changes.
What is a variable expense?
An account used for everyday purchases.
What is a checking account?
Name something big you should save for.
What is college, a house, a car, etc?
How much of your income should you spend on needs?
What is 50%?
Money the government collects from your paycheck is called this.
What is income tax?
What kind of expense is rent?
What is a fixed expense?
Name the credit union that visited our class yesterday.
What is Black Hills Federal Credit Union?
How much of your income should you save?
What is 20%?
You have to pay money on top of returning what you borrow.
What is interest?