Budgeting
What is a budget?
What is a plan for managing your money that is based on your money on your estimation of your income + your expenses?
What is a credit card?
What is a card that lets you borrow money from a bank to buy things now and pay for them later at the end of the month?
What is the definition of "savings"
What is storing your money for future use?
What is the definition of a "need"?
What is a good or service that one cannot survive without.
What is a loan?
What is money borrowed that must be repaid with interest?
What is a personal financial plan?
What is a plan that is the process of managing money to meet personal economic goals?
What is a credit score?
What is a 3-digit number that predicts how likely you are to repay debt on time.
What is a savings account?
What is a secure banking account that saves your money that includes interest ; money that you will use for the future or unforeseen expenses?
What is a want?
What is something you want to have but is not necessary for survival?
What is interest?
What is the cost of borrowing money or the reward of lending/saving?
What is the difference between a short-term and a long-term financial plan?
What is long-term financial plans that are harder to manage and longer than short-term financial plans?
Which of the following is a good credit score?
a: 350
b: 700
c: 550
d: 1600
What is B?
What is savings used for?
A: everyday expenses
B: Unexpected emergencies
C: Groceries
D: Wants
What is B?
Which of the following is a need?
a: Water
b: chocolate
c: a pet
d: A computer
What is A?
What is a bank?
What is a financial institution that accepts deposits, provides loans, and offers services?
What should you use to make a good budget?
What is a SMART goal?
What is the difference between a credit card and a debit card?
What is a debit using money directly from a checking account and a credit card that borrows money from a bank and pay back the money with interest?
What are saving accounts known for?
What is known for providing a safe, secure, and accessible place to store cash while earning modest interest?
Which of the following is a want?
a: shelter
b: food
c: clothes
d: McDonalds
What is D?
What are loans based on?
What is your credit score?
Why is it important to compare prices before buying something?
What is something that ensures you pay the lowest available price, and avoid overspending?
What is a credit union?
What is a thing that helps you become credit worthy?
Why is it important to save, even if you don't have much money?
What is to prepare for unexpected emergencies?
Why are needs more important than wants?
What is needs that you cannot survive without but wants you can survive without?
How long does it tak e to pay off loans?
What is a loan that depends primarily on the loan type, the interest rate, and your monthly payment amount?