Vocabulary
Inflation
Inflation can cause an item to cost more money today than it did last year.
What is the difference of a Withdrawal slip and deposit slip?
Withdrawal-Take out
Deposit- Put In
A _______ is a plan to show how a person will spend his or her income.
Budget
When writing a check "What is does Pay To The Order Of" Mean_____________________
Who you writing the check to:
Example: Pay To The Order of
Mrs.Tamaria Sanders
What is the reason of Creating a budget
To mange your money and create a savings.
Budget
A budget is a plan to show how a person will spend his or her income.
What are 3 things that's should included in a budget
Needs, wants and saving/debt repayment
A person uses a _______ ______ ____ to see whether the budget plan is being followed.
Budget Record Form
In the right top corner of the check under the check number. What goes there?
The Date
What do you use to base you budget on:
Your Income Earnings
Example: (input ) Credit
(output) debit
Money Manger
A money manger is a person who handles his or her money wisley.
Gas
A_________ person who handles his or her money wisely.
Money Mangers
What is Memo area used for when writing a check
The reason for writing the check
Give Some example on what should be included in your budget.
Water
electric
phone
room & board
Cable
Estimated Expense
Estimated expenses are items that a person ;poans to buy with his or her items.
Does your account number goes on you Withdrawal Slip and deposit slip?
Yes
___________are items that a person plans to buy with his or her income.
Estimated Expenses
How to write out the amount of $500 dollars
Example: Five hundred dollars_____ 00/100
How to decrease your budget
By cutting back on your spending
Gross Earnings
The total amount of money earned in a pay period is called Gross Earnings.
What is the 50/30/20 rule
50%/for your needs
30%/Wants
20%/ Saving and paying off debt
The total amount of money earned in a pay period is called a___________________
Gross Earnings
What goes in the Bottom right corner of the Check. This is very important information.
Signature
How did Mrs. Cruz say she payed her bills?
(Hint Dave Ramsey teach in his seminars.)
Envelopes