Vocab
A careful record that tracks all the money you earn and spend
What is a budget?
the first expense that you account for in your personal budget
What is savings?
ultimate goal of balancing and assessing your personal budget
What is have more income that expenses?
The process of comparing competing products and prices in order to find the best value.
What is comparison shopping?
savings accounts tend to earn _______ that is added to the initial deposit that you make into the account.
What is interest
Lending money to the government or company to get no ownership with a hope of return later
What is bonds?
A fee assessed on the loan given by a lender to a borrower
What is interest?
Three typical sources of credit
1. Bank 2. Credit Union 3. Finance company
stock’s share value depend on this
What is the company's performance in the market?
Movement to educate buyers about the purchases they make and to demand better, safer products from manufacturers
What is consumerism?
The borrower’s ability to repay loans based on previous experiences, financial situation, job history, and other factors
What is a credit score?
method of how one can avoid impulse buying
What is 1. comparison shopping 2. shopping list 3. take time etc
Similar to a Savings Account, but requires a larger deposit and has higher interest
What is money market account?
benefits to credit
What is 1. able to make large purchases 2. teaches responsibility
List the Bill of Rights
1. Right to be informed 2. Right to safety 3. Right to redress 4. Right to be heard 5. Right to education 6. Right to choose 7. Right to service 8. Environmental health