personal finance

Front

What is the money people pay to support the government?

Back

Taxes

Front

What is the term for money put into your account?

Back

Deposit

Front

What is a plan for how much income will be received and how it will be spent?

Back

Budget

Front

What is the term for money taken out of your account?

Back

Debit

Front

What occurs when the total amount of money spent, saved, and shared equals total income?

Back

Balanced budget

Front

What is the term for a financial plan that outlines expected income and expenses?

Back

Budgeting

Front

What is the difference between fixed and variable expenses?

Back

Fixed expenses remain the same each month, while variable expenses can change.

Front

What is interest in the context of personal finance?

Back

Interest is the cost of borrowing money or the earnings from saving money.

Front

What is the purpose of a savings account?

Back

A savings account is used to save money while earning interest.

Front

What is a credit score?

Back

A credit score is a numerical representation of a person's creditworthiness.