Personal Finance

You should repeat your budgeting steps every month

A detailed financial forecast used to plan, control, and evaluate your spending and saving.

This card is linked directly to a bank account and is a way to pay for things with money you've already earned.

Where you put money that you intend to spend

What is the 2nd step in budgeting?

What is the first step in budgeting?

An extra charge for borrowing money. It's usually a percentage of the borrowed amount.

Why do people save money?

Borrowing money from somebody is called a what?

Something you must have to survive

Something that would be fun to have but you can live without.

Where you put money that you do not intend to spend right away.

Financial Literacy requires knowledge of the following

Money that you spend.

What is the 3rd step in budgeting?

The ability to understand and effectively use various financial skills to make informed decision about personal finances

Money earned or received as gifts.

The act of preparing a budget is called BUDGETING

Checking Accounts will pay you in interest

A budgeting strategy that recommends putting money towards needs, wants, and savings

This card is used like a loan, a way to borrow money, and must be paid back according to a schedule.

A budget performs which of the following functions?