Earning and Income
Money you earn from a job
What is income?
Putting money into your bank account.
What is a deposit?
Things you must have to live, like food and shelter.
What are needs?
It's old-school and what people used before tapping, swiping, or even clicking. It's like an ancient scroll of money transfer that your grandparents used...
What is a cheque?
The act of taking money from a lender with a promise to repay it.
what is borrowing
Extra money or advantages you receive from a job, like health insurance or paid vacation.
What are benefits?
Taking money out of your bank account.
What is a withdrawal?
Things you would like to have but can live without....like that playstation.
What are wants?
It's when you take money out of your bank account to pay for something.
What is a withdrawal or using a debit card.
The extra money charged for borrowing money.
What is interest
Money that goes out of your budget to pay for something.
What is an expense?
Money you earn from keeping your savings in the bank.
What is interest?
Items you can buy and hold in your hands.
What are goods?
A plastic card that allows you to borrow money to pay for purchases.
What is a credit card?
Something you own, like a house or land.
What is property
It's when you use money to pay for goods or services.
What is spending?
Money you borrow and promise to pay back.
What credit or a loan?
What are services?
It's like teleporting money through the internet.
What is an e-transfer
When using credit responsibly, you avoid this problem of owing too much money.
What is debt?
When you choose to put money aside instead of spending it.
What is saving?
A plastic card that allows you to borrow money to make purchases.
What is a credit card?
People who purchase goods and services.
What are consumers?
The old-school way to buy stuff before phones took over.. printed on paper or metal..
What is cash
If you don’t pay your credit card balance, this builds up over time.