Personal Finances

Things that are necessary to survive.

• savings

• credit

• wants

• needs

Money that you earn from working or gain from investments

• spending

• wants

• income

• credit

1. Money you spend (opposite of income.)

• interest

• credit

• savings

• expenses

Trading money in exchange for goods or services

• scarcity

• investing

• credit

• spending

Things that are nice to have, but aren’t necessary to survive

• credit

• needs

• wants

• income

Putting money to use in something that offers potentially profitable returns

• spending

• investing

• credit

• interest

A plan for saving and spending income

• expenses

• credit

• budget

• spending

What you give up (like time or money) when you make a choice

• scarcity

• checking account

• savings account

• opportunity cost

A bank account from which you can write checks and spend money

• opportunity cost

• checking account

• investing

• savings account

A bank account that earns interest for saving money

• checking account

• savings account

• spending

• opportunity cost