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Opener 4/29 Personal Money Management Flashcards | StudBud

Explore/Opener 4/29 Personal Money Management

What is a budget?

What is interest?

Opener 4/29 Personal Money Management

5 terms·StudBud Administration·46 plays

Social Studies 6th personal money management

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Questions 5

Answers

1
What is interest?
It's a plan. You ensure expenses do not exceed your income
It is a limited amount of money you make from working a job.
It's when a bank from which you borrowed money forgives debt
It's charged for borrowing money, more until you pay it back
2
What is a budget?
It is the ability to borrow money.
Envelopes to put money into.
It is a plan for how you spend and save your money.
It's charged for borrowing money, more until you pay it back
3
What are the benefits to having a budget?
A bank will allow you to borrow money from them for a price.
It ensures you do not have to pay as much in income taxes.
You ensure your expenses do not exceed your income.
You only use cash, preventing a bank from charging you fees.
4
What is credit?
A type of card used to get money from an account.
It is a plan for how to spend & save money.
The ability to borrow money. You are then charged interest.
It allows you to borrow more money than you make.
5
What is income?
Pay received from work to buy whatever.
A plan for how you spend and save your money.
You are charged this monthly when you borrow so you owe more
A certain, limited amount of pay received from work.