Money Basics
This is what you use to buy things
Money
This is what it's called when you pay for something.
Example: You are ______ money.
Spending
This is money you keep for the future instead of spending now.
Savings
What is a budget?
A tool that helps you plan your money by tracking income and expenses.
You should never give this out over the phone or online.
What is your personal information (like PIN or SSN)?
This kind of money is made of metal and is round.
Coins (pennies, quarters, etc.)
A place like Walmart or Target where you go to buy things is called a ______ .
Store
A good reason to save money, like fixing your car or going on a trip.
Financial goal
What is an essential expense?
Rent, groceries, and electricity are examples of this kind of expense.
A message saying “You won money” but asking for payment is often this.
A scam
This kind of money is made with paper
Dollars or bills
This is when something is less expensive than usual for a short time at a store.
Example: This shirt is only $5 but it used to be $10! It's on ______.
Sale
A type of account at a bank that helps you save money and earn a little more.
Savings account
What are wants or extra expenses?
Movies, games, and eating out are examples of this kind of expense.
When using a debit card, you need to enter this number to complete a purchase.
PIN (Personal Identification Number)
This is what you get when you work a job. Usually it comes once every two weeks.
A paycheck
This type of spending happens when you buy something without thinking about it.
Impulse buy or impulse purchase
This is a habit of saving the same amount of money each week or month.
What is consistent saving or a savings plan?
What is a flexible budget?
A budget that changes each month based on what you earn
What is being tricked or scammed?
If someone you don’t know asks for money online, this might be happening.
You keep your money in this place to keep it safe
A bank
Before you buy something expensive, you should always do this first.
Compare prices and/or make a plan
This is extra money you save in case of an emergency.
Emergency fund
If you spend more money than you earn, you are in this.
Debt
What are examples of tracking your money and preventing fraud?
Keeping your receipts and checking your bank account.