Budgeting
What is a budget?
helps you manage your income and expenses.
What is saving?
This is the act of setting aside money for future use instead of spending it now.
What is credit?
This is borrowing money now and paying it back later, often with interest.
What is a loan?
This is money borrowed that you must pay back with interest over time.
What is investing?
This is putting money into things like stocks or real estate to try to make more money.
Why make a budget?
to avoid overspending and reach money goals
Where to save money?
This is a safe place to keep money, like a bank or credit union account.
Credit score range?
This is the typical range for credit scores, from poor to excellent.
What is interest?
This is the extra money paid for borrowing or earned from saving.
What is a stock?
This is a share of ownership in a company that you can buy or sell.
What are fixed costs?
These budgeting costs stay the same every month, like rent or a phone bill.
What is interest?
This is the extra money earned on savings or paid on borrowed money.
How to build credit?
What is building credit? or What is making payments on time?
Types of debt?
Examples include credit card debt, student loans, and mortgages.
What is a bond?
This is a loan you give to a company or government that pays you back with interest.
What are variable costs?
These budgeting costs change from month to month, like groceries or gas.
What is a savings goal?
This is a specific money target you want to reach by saving over time.
What hurts credit?
This hurts your credit when you miss payments or borrow too much.
Good vs bad debt?
This debt helps you invest in your future like education while this debt comes from buying things that lose value quickly.
What is a mutual fund?
This is a collection of stocks and bonds managed by professionals that you can invest in.
What is a spending plan?
This is another name for a budget, used to track how money is earned and spent.
Emergency fund?
This is money saved to cover unexpected expenses like car repairs or medical bills.
Credit vs debit card?
This card lets you borrow money while this card uses your own money from your bank account.
Student loans?
This type of loan helps pay for college or other education costs.
ROI meaning?
This measures how much profit you make from an investment compared to its cost.