Banzai Vocab
Money you earn from work you do
Income
Something that you spend money on, either one time or regularly.
expense
Money you receive for doing work or from investments.
income
What is another name for a personal loan?
an IOU
What were the two options you could try to get in the Banzai game?
bike or hoverboard
Interest
A portion of money paid to the government out of your paycheck to help pay for things like schools, hospitals, roads, and other services that benefit the country.
What is income tax?
An occupation undertaken taken for a significant time and with opportunity to progress.
a career
How does your money grow each month?
(interest)
What is the name for someone who sells something?
Vendor
These are the things or bills you spend money on
Expense
A _____ is a percentage-based amount paid on non-essential items at the point of sale
Sales Tax
The money you earn at your job before taxes are deducted.
gross income
What is the best way to make change at the grocery store?
Using the fewest coins and dollars possible.
Debit or Credit: money is taken out of your bank account
debit
Money borrowed from someone else with the expectation of paying it back.
loan/iou
What two things should you track in a budget?
income and expenses
The money you earn from your job after the taxes are deducted
net income
What is the best way to make a budget?
Divide your money into categories according to what the money is for.
When is the Banzai Junior test?
Friday, 2/16
a percentage added to the sale of goods you buy
sales tax
What does PYF stand for?
Pay Yourself First
The score given by a credit agency regarding your ability to pay off a debt.
credit rating
or credit score
What is the difference between income and expense?
Income - money you make
expense - money you pay
Why would someone create a budget?
To keep track of money earned and spent.