O'Connor Financial Literacy Review

What is the purpose of a rainy day fund?

Which of these items is a WANT

You get $20 from your job. What is that called?

Where is a safe place to keep your savings?

Rent is a want.

You should try to save some of your income.

Which of these is an example of an expense?

The more people want a good or service, the higher the

Money added to a bank account

A person who borrows money and has to give or pay it back

A budget helps you manage your money.

A ___________ is a series of jobs that people do over a period of time that may include college, or special training.

which of these items is a NEED

If you have $30 and spend $10, how much do you have left?

Which of these is a need?

If you want to save money, what should you do?

What is a budget?

Money earned for working or selling goods, property, or services

Extra money that a person pays when they use credit or borrow money

All employers are required to provide their employees with benefits such as health insurance.

A _________ is an area of work where you gain knowledge in a specific area and become an expert.

It’s okay to spend more money than you have

Money taken out of a bank account:

What is income?

Financial Literacy is important because...

Money that is borrowed, to pay for things now, but must be paid back later with interest

What happens if you spend more money than you have?

A ______ is what you do to make money and does not require much training.

_______ helps you understand where your money goes and how much you need.

A person who let’s someone borrow something is a: