Budget Flashcard

Front

What does it mean to spend money?

Back

To use money to buy things or pay for services.

Front

What is saving money?

Back

Putting money away to use later instead of spending it now.

Front

What is a budget?

Back

A plan for how to spend and save money.

Front

What is income?

Back

Money that you earn or receive.

Front

Why is it important to save money?

Back

To have money for future needs or wants.

Front

What happens when you spend all your money?

Back

You have no money left to save or buy more things.

Front

What is a piggy bank?

Back

A container used to save coins and money.

Front

What does it mean to put money into a piggy bank?

Back

To save money for later use.

Front

What is a want?

Back

Something you would like to have but do not need.

Front

What is a need?

Back

Something that is necessary for living, like food or shelter.