Credit
Your money reputation.
What is credit?
A plan in order to manage your money and spend it responsibly.
What is a budget?
The money received from work, gifts, or investments.
What is income?
The value of the next best alternative you give up.
What is opportunity cost?
Things that would be nice to have but are not needed to live.
What is wants?
A percent of the borrowed amount.
What is interest?
A plan for the expenses for the year, such as annual subscriptions and yearly payments.
What is a yearly budget?
The income remaining after taxes and deductions.
What is net income?
Used to exchange for goods and services.
What is money?
Double points! Things you need to live.
What are needs?
A small plastic card issued by a company or other financial institution, type of loan.
What is a credit card?
A plan for the expenses to operate that month.
What is a monthly budget?
The total income before taxes and deductions.
What is gross income?
Banks that insure an amount of your money.
What is FDIC insured banks?
S.M.A.R.T. acronym.
What is specific, measurable, achievable, relevant, timebound.
A type of bank account designed for daily spending.
What is a checking account?
Putting money aside and accumulating it for later use.
What is saving?
The money received from working jobs.
What is earned income?
Double points! What is the current U.S. Minimum wage
What is $7.25?
FDIC acronym.
What is Federal Depositors Insurance Corporation?
A type of bank account designed for accumulating money.
What is a savings account?
Groceries/food, mortgage/rent, car payment/car insurance, entertainment, and savings.
What is 5 things commonly included in a budget?
The money you have left after paying taxes and the basic needs.
What is discretionary income?
The process of managing money to meet personal economic goals.
What is financial planning?
When someone steals your personal information to use fraudulently.
What is identity theft?