Budget Stuff
These are items in your budget that are necessary for your health and well-being.
What are needs?
Tell us one of the questions you need to think about when starting a business.
Answers will vary.
This type of investment involves purchasing property to generate income.
What is real estate?
This is saving and investing money to ensure you have enough to live comfortably when you complete your career.
What is retirement?
Budgeting is all about needs and ___________.
wants
This financial goal is something that you want to achieve soon.
What are short-term goals?
This occurs when a business makes less money than it spends.
What is loss?
This is a loan an individual makes to an organization. This is a low-risk investment.
What are bonds?
This is money that exists only in the digital form.
What is cryptocurrency?
This card provides good fraud protection.
What is a credit card?
This is setting aside money from your income for future use rather than spending it immediately.
What is saving?
These are the costs associated with running a business, such as the cost of goods sold, salaries and wages, rent, etc.
What are expenses?
This is a share in the ownership of a company.
What are stocks?
This is the ability to get goods or services now and pay for them later, usually with interest.
What is credit?
This is a goal for the far future, like saving for retirement or buying a house.
What is a long-term goal?
This is when a budget has income exceeding what is being spent.
What is a budget surplus?
Labor __________ are what you need to be aware of when owning a business.
What are "Laws"?
An investment is buying something with the goal of what?
Two answers, either ___________________________ or _______________________________.
Increasing its value or generating income.
Doing this to a budget refers to a financial plan where money earned is equal to money spent.
What is balancing a budget?
This is someone who decides to create or run a business.
An entrepreneur.
What is the budgeting rule we learned about that tells you how much to put towards needs, savings, and wants?
"The 50/30/20 Rule"
When starting a business, you need to identify this.
Market need.
This is when you buy stocks that you believe will perform well over the long term.
What is the buy-and-hold strategy?
This is the money a bank pays a depositor for keeping their money in a savings account.
What is interest?
Mr. T told us that everyone, even the government pays what?
Taxes!