Money Basics
A plan for how you will save and spend your money.
What is a budget?
A way to borrow money for purchases and pay it back later.
What is a credit card?
What's a checking account used for?
Everyday spending and transactions.
A share of ownership in a company.
What is a stock?
You have 20$. A shirt costs 25$. What should you do if you don't have another source of money?
Don't buy it you broke asl 😵😂
Money you receive, such as from a job.
What is income?
What does APR stand for?
What is Annual Percentage Rate?
What's a savings account primarily used for?
What is saving money....?
A type of investment where you lend money to an organization, which generally promises to repay it with interest.
What is a bond?
Your friend wants to borrow 100 $but says they'll pay you back "eventually." What should you consider before lending it?
Whether you can afford to lose the money and whether you trust the repayment plan.
Money saved to cover unexpected expenses.
What is an emergency fund?
True or False: Paying bills on time can help your credit history.
True
Money earned on savings or money charged for borrowing.
What is interest?
What does it mean to diversify your investments?
Spread your money across different investments rather than putting it all in one.
You receive 1,000$ unexpectedly. Name two financially responsible things you could do with it.
Save it, pay down debt, invest it, or put some toward an important expense.
If you make 2,000$ and spend 1,700 how much do you have left?
What is 300$?
Makes it easier to qualify for loans or credit and help get better borrowing terms.
What is good credit score?
When money, such as a paycheck, is electronically deposited into your bank account.
True or false: Investing can involve losing money.
True.
You see a pair of shoes for 150$. They're 50% off. How much do they cost before tax?
75$
What is the difference between a need and a want?
A need is something necessary and a want is something you desire but can live without.
Surprise: What is the name of Young Thugs album after he beat his case?
What is UY Scuti?
Why shouldn't you give your bank account password or PIN to someone else?
It could allow them to access or steal your money.
Why might someone invest money instead of keeping all of it in cash?
Investing can potentially grow wealth over time, although returns aren't guaranteed.
You have $500 saved. Your car suddenly needs a $400 repair. What financial concept does having that $500 demonstrate?(Mentioned in money basics!)
What are emergency savings?