Personal Finance

An example of a need is

• Food

• A BMW

• A mansion

• Nike shoes

an arrangement by which a buyer can take possession of something now and pay for it in the future, usually with interest

• Loan

• Credit

• Interest

• Investment

a home loan

• Mortgage

• expenses

• Bills

• Credit

Money taken in; the source could be a gift or prize, money earned from performing a task, an allowance, earnings at a job, or earnings from an investment

• Income

• Outcome

• expenses

• Interest

Money paid regularly by a bank to the account holder for money being saved

• Bond

• Stock

• Interest

• Certificate of Deposit

Money set aside now in order to grow money for the future

• Investment

• Interest

• Philanthropy

• Personal Finance

Interest is:  

• The cost of borrowing money 
• A good thing to have to pay
• The amount of money that you borrow to buy something 
•  A word that we used in class but has no real meaning 

Eric purchased a movie ticket with his card. This money will come straight out of his checking account. What card did he use?

• Credit Card

• Debit Card

• Gift Card

• Rewards Card

When opening a savings account or planning your budget, which unexpected expenses should you consider?

• home repair

• car repair

• medical expenses

• all of the above

When using a credit card, you will eventually have to do the following:

• pay for the item and/or pay interest

• never pay for the item

• buy everything you have ever wanted

• explain to your friends that it did not cost anything