Understanding Personal Finance Basics

Front

What does it mean to "save" money?

Back

To keep some money for later

Front

Which of the following is an example of a "deposit"?

• Taking money out of your bank account
• Putting money into your bank account
• Spending money at a store
• Lending money to a friend

Back

Putting money into your bank account

Front

Borrowing

Back

Taking money from someone with a promise to return it

Front

If you "lend" your friend $5, what are you doing?

Back

Giving your friend money to use, expecting it back later

Front

Which action is an example of "spending"?

Back

Buying a new book with your money

Front

Back

$6

Front

Back

4 weeks

Front

Back

Front

Sarah wants to buy a toy that costs $12. She has $7 saved. What should she do to get enough money for the toy?

Back

Borrow $5 from a friend or family member

Front

Tom has $15. He wants to save half and spend the rest. How much will he save and how much will he spend?

Back