Saving and Spending

Front

What is a want?

Back

A want is something that you would like to have but do not need to survive. For example, art supplies are a want.

Front

What does spending mean?

Back

Spending means using money to pay for something.

Front

What is saving?

Back

Saving is when you set money aside or put it in the bank.

Front

What are savings?

Back

Savings are not spending money because you have a goal or reason to save.

Front

What is a need?

Back

A need is something that is necessary for survival, like water.

Front

Can you give an example of a want?

Back

An example of a want is a camera.

Front

Can you give an example of a need?

Back

An example of a need is food.

Front

What is the difference between saving and spending?

Back

Saving is keeping money for future use, while spending is using money to buy things now.

Front

What is a budget?

Back

A budget is a plan for how to spend and save money.

Front

What does it mean to borrow money?

Back

To borrow money means to take money from someone with the promise to pay it back later.