Budget Basics
The term for tracking income and expenses to avoid overspending
What is a budget/budgeting?
Name a common account offered by banks
What are savings, checkings or investment accounts?
What is the impact of high-interest rates on credit cards?
What is increases overall cost of borrowing money
Name two common tools people use to create budgets
What are apps and spreadsheets
How much should you aim to save for emergencies?
What is 3-6 months?
What is the difference between a debit card and a credit card?
What is a debit card is your money and a credit card is money that is lent to you by a bank to be paid back
What does the 50/30/20 percent rule suggest?
50% needs, 30% wants and 20% savings or debt repayment
What does "pay yourself first" mean?
What is prioritize savings before spending?
What does APR stand for?
What is annual percentage rate?
What is an emergency fund?
What is savings for unexpected expenses?
What is an interest rate?
What is the reward for saving money or the cost of borrowing money?
What is bankruptcy and how does it affect your credit?
What is inability to repay debts and severely impacts credit score?