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A plan for managing your money. It compares how much you earn (make) to how much you spend.
Budget
Money earned through employment or through benifits
Income
Money spent to buy goods and pay for services
Expenses
Money put away into this account is to be used for later.
What is a savings account?
Items or things you would like to have but are not necessary are this type of expense.
What is discretionary?
Food, Shelter, Transportation and Utilities are also known as.
What are the four walls?
These expenses are known as the four walls.
What are food, shelter, utilities and transportation?
Type of expenses that stay the same each month
What is a fixed expense?
The amount of money in your bank account
What is your bank balance?
It is the amount you, as a high school student, are suggested to have in savings.
What is $500?
It is all the money decisions you make every day.
What is personal finance?
A plastic card you use to get money from your bank account(s)
What is a Debit Card?
Type of expenses that change each month
What are Variable Expenses?
A machine often found on a wall outside of a bank where you can withdraw from / deposit into your bank account
ATM – Automated Teller Machine
The act of putting money into your bank account.
What is a deposit?
It is making an educated guess on future expenses based on past spending.
What is estimating expenses?
Money that you borrow that must be repaid
What is a loan/debt?
Al Capone was imprisoned on this charge in 1931.
What is tax evasion?
Bills like your gas bill will change from month to month. What type of expense is this?
What are variable expenses?
Money paid to the government, which is based on your income.
What is tax?
This type of expense is the same every month.
What is a fixed expense?
Some examples of this category of expense would be Christmas and Halloween
What is intermittent?
As an adult it is suggested that you have this much money in your savings account.
What is 6 months of your yearly income?
Because my uncle didn't spend his million dollar lottery win wisely, he ended up filing _________ to protect him house and belongings.
What is bankruptcy?
DAILY DOUBLE!!!
You are out with 10 friends for dinner. The bill is $420.00 after tax. You had exceptional service for such a large table filled with a plethora of food restrictions and allergies being correctly addressed.
You decide to tip 25%. How much is the bill plus the tip AND how much is each person to pay?
What is $525 and $52.50?
How?
420 X 1.25= 525
525/10= 52.50