MONEY MANAGEMENT
This is where many children keep their first savings.
piggy bank
Simple interest equals principal x this x time.
interest rate
American Express and Visa are companies associated with this method of payment.
credit card
This word, starting with “D”, means money that is owed.
debt
This is a charge for borrowing money.
interest
You can save money by realizing the difference between these and “wants”.
needs
If you have a loan, you’ll be charged a higher interest rate if this rating of yours is too low.
credit rating
In several countries, including Canada and Australia, this coin isn’t used anymore.
penny
This word, starting with “E”, means not cheap.
expensive
People buy this, so they don’t lose a lot of money because of fire, an accident, or theft.
insurance
When shopping, this type of voucher will save you money.
coupon
To pay off a loan, you’ll need to pay back this, plus interest.
principal = original loan amount
This method of payment often requires the buyer to get change back.
cash
This word, starting with “W”, is a repair or replacement guarantee for a buyer.
warranty
Fill the blank for this formula: _________ - Expenses = Savings
Income
This includes a plan of how much you will spend over a set period of time.
budget
With this type of interest, ongoing interest is added to the principal along the way.
compound interest
This method of payment may result in an NSF fee if there isn’t enough money in your bank account.
check
This word, starting with “S”, refers to how much of a resource is available.
supply
These are items intended for resale.
inventory
There are the 3 major building blocks for your asset allocation.
Cash, Bonds, and Stocks.
In the formula for simple interest, you would enter this number for time if you took out a loan for 24 months.
2
With online banking, you can use this pocket device
to pay your bills.
phone
This type of income, starting with “P”, allows you to earn money while you sleep.
passive income
This is an asset or item that is purchased to produce income.
investment