Personal Finance Vocab Review

Front

Total earnings from a job?

Back

income

Front

Plan for saving and spending?

Back

budget

Front

Type of bank account most linked to spending?

Back

checking

Front

Using credit is like:

Back

borrowing money from a stranger with a promise to pay back more than you borrowed.

Front

Difference between income and expenses?

Back

Income is money earned; expenses are spending.

Front

What is credit?

Back

A person buys something and pays for it later.

Front

Importance of saving money?

Back

Money for future goals/emergencies.

Front

Personal Loans, mortgages, and credit cards are types of credit.

Back

True

Front

Overdraft protection means you don't need to track expenses.

Back

False

Front

Budgets plan money for:

Back

all of the above