Budgeting
A plan for how you will use your money. It helps you decide how much to spend, save, and give.
What is a budget?
Prepare for emergencies and reach your future goals
What is how saving money helps you?
When you borrow money and agree to pay it back later, often with extra money called interest
What is credit?
Reach their goals, buy something important or save for the future
What is reasons people use a budget?
1.Savings Account 2.Real Estate/Property. 3. Stock Market 4. Checking Account
What are examples of where your money goes?
A credit card lets you borrow money up to a certain ______?
What is limit?
Things you would like to have but can live without, like video games, new shoes, or fast food.
What is wants?
Having your money in lots of different places
What is diversify?
A set amount of money you borrow and repay over a longer period
What is a loan?
1. List your income 2.List your expenses
3.Plan your savings 4.Compare and adjust
What is how to create a simple budget?
Putting your money into accounts and assets that help it grow over time
What is investing?
Borrowing more money than you can repay.
What is debt?
1. See where your money is going 2.Avoid overspending 3. Stick to your budget 4. Make better choices in the future
What is tracking your spending?
Taking this can help your money grow over time. Big ones could mean lots of money but it could mean big losses
What are risks?
Extra money you owe the bank for using the their money
What is interest?