Saving
This is the money you set aside now so you can pay for something later without borrowing.
What is savings?
True or False 70% of teens interviewed said their main source of income was their parents.
What is true?
This is a plan that shows how you will spend and save your money.
What is budget?
True or False Opening a credit card account will affect your credit?
What is true.
A goal like saving for a new pair of shoes in two months is this type of goal.
What is a short-term goal?
his term describes money earned on your savings just for keeping it in the bank.
What is interest?
This is the money you earn from working a job or doing tasks for pay.
What is income?
Money you must spend on things like food, transportation, or phone bills falls into this category.
What are needs?
Saving for college, a car, or your own place is an example of this.
What is a long-term goal?
What does APR stand for?
What is annual percentage rate?
This document shows how much you earned and what was taken out for taxes.
What is a pay stub?
Setting limits on spending in each category helps prevent this problem.
What is debt?
This fee is charged when you don’t pay your credit card balance on time.
What is a late fee?
This type of goal clearly states the amount you want to save and by when.
What is a SMART goal?
This kind of savings is meant for unexpected expenses like car repairs or medical bills.
What is an emergency fund?
This government deduction helps pay for things like schools, roads, and emergency services.
What is taxes?
Money spent on things you enjoy but don’t have to have is called this.
What are wants?
The maximum amount you are allowed to spend on a credit card is called this.
What is a credit limit?
What is something you plan to achieve with your money in the future.
What is a financial plan?
When your spending is more than your income, you are doing this.
What is overspending?
Paying at least this amount each month keeps your account in good standing.
What is a minimum payment?