Debit or Credit
Saving & Budgeting
Needs vs Wants
Misc.
2

Buy now, pay now.

Debit Card


2

A spending and saving plan based on your expected income and expenses is called what?

A Budget

2

Food is a ________

Need

2

Which of the following purchases would I never use my credit card to pay for?

A. Textbooks for School

B. Rent for my Apartment 

C. Groceries 

D. Lunch with a friend

B. Rent for my Apartment

4

Buy now, pay later.

Credit Card

4

An account in which the bank pays interest for the use of the money deposited in the account.

What is a savings account?

4

Candy is a _____

Want

4

This is the difference when you subtract your liabilities (i.e. debt & bills) from your assets (things of value that you own).

Net Worth 

4

This card allows you to build credit history (i.e credit score)

Credit Card

4

If you save $150 each week, how much money will you have after 6 weeks?

$150 X 6 = $900

4

It's important to identify needs and wants to create a budget and ensure that needs are met before wants. 

True or False?

True

4

Why are most Americans in debt? (list three reasons)

  • Student loans

  • Robust personal spendings

  • Rising balances on credit cards 

  • Inflation

  • Housing 

  • Mortgages 

8

This card requires money to be taken automatically out of a checking or savings account

Debit Card

8

Put these steps of the budgeting process in order. 

- Compare your budget to your spending

- Monitor current spending patterns

- Set Goals (Financial & Personal)

- Review Progress

1. Set Goals (Financial & Personal) 

2. Compare your budget to your spending. 

3. Review Progress

4. Monitor Current Spending Patterns

8

Daily Double

What are needs?

What are wants?

Needs: Things that are required to maintain physical, emotional, and financial health, such as food, water, clothing, shelter, healthcare, and transportation 

Wants: Things that are desired but not required for survival, such as toys, expensive shoes, entertainment, travel, designer clothing, subscription services, and new clothes