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Banking
Spending Plans
Expenses
Personal Finance
Miscellaneous
100

What is credit?

Credit is the ability to borrow money, goods, or services now with the promise to pay for them at a later date.

100

Specific targets for managing your money, which are typically broken down into short-, mid-, and long-term objectives.

What are goals?

100
Examples of this type of expense include mortgage/rent, insurance, real estate taxes, and vehicle registration.
What are fixed expenses?
100
This is what credit card companies charge for use their money.
What are finance charges?
100

Do we accept late work?

NO!

200
A request for your bank to pay another party from funds in your account.
What is a check?
200
This may include your paycheck, child support, alimony, investment income, and/or other income.
What is your source of income?
200

Financial charges that governments at the local, state, and national levels impose on individuals and businesses.

What are taxes?

200
The best way to reduce your credit card debt.
What is pay more than the minimum payment required?
200
This is the best way to protect your credit rating.
What is pay your bills on time?
300

What is the difference between credit cards and debit cards?

A credit card runs on credit while a debit card is your own money

300
The term used to describe the things you spend your money on.
What are expenses?
300

The total monetary expense of maintaining a certain standard of living in a particular location, covering essential goods and services such as housing, food, transportation, and healthcare.

What is cost of living?

300

Any money-making activity undertaken in addition to one's primary job, providing supplemental income, exploring passions, or developing new skills.

What is a side hustle?

300

What do we have every friday?

What is a project or exam?

400

Money that you owe a bank

What is debt?

400
One of two types of expenses.
What are fixed or flexible (variable) expenses?
400

The act of committing money or other assets into a financial scheme, property, or commercial venture with the expectation of generating a future profit or return.

What is investing?

400

Preferably, the only types of purchases that should be financed (with credit) are these.

What are large purchases (such as a house or car)?

400
The best time to begin saving for retirement.
What is As Soon As Possible?
500
This happens when you write checks for more money than is in your account.
What is an overdraft?
500

A financial plan that estimates your expected income and allocates it to different expenses, savings, and investment goals over a specific period, such as a month or year.

What is a budget?

500

A comprehensive assessment of how much risk an individual is willing and able to take, primarily in the context of investments.

What is a personal risk profile?

500
Calculate this by taking the total amount of money and assets you have and subtracting the total amount of money you owe.
What is your Net Worth?
500
This represents the amount of money left over after all bills have been paid.
What is descretionary income?