Personal Finance

What is a budget?

• A type of savings account

• A way to invest for retirement

• A fund for emergencies

• A financial plan that defines expenses for a period of time.

What is meant by money being ACCESSIBLE? (select all that apply)

• Anyone can get it easily

• The owner can get it quickly

• It takes a long time to get the money

• The owner can get it easily

What is meant by money being LIQUID? (select all that apply)

• It's stored in the form of physical money

• It's stored in the form of electronic money

• It's invested in something that must be sold to obtain money

• It's invested in something that's valuable, but not money

Why should we INVEST instead of SAVE for retirement?

• Investing money can make it grow in the long term.

• Investing is safer than saving.

• Saving is too risky for retirement.

• Investing is more fun than saving.

What is debt?

• Money you have borrowed and need to pay back

• Money you make from working at a job

• Money you make from the government

• Taxes that you pay when you buy something

Tags

CCSS.RI.11-12.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

CCSS.RI.9-10.5

money earned

• salary
• income
• purchase
• spend

the amount of money a person can earn by being self-employed or by doing a job for another person or business

• salary
• scarce
• interest
• lend

Tags

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.9-10.4

CCSS.RI.9-10.4

to give money to someone else in exchange for something

• interest
• lend
• spend
• borrow

Tags

CCSS.RI.11-12.4

CCSS.RI.8.4

CCSS.RI.9-10.4

CCSS.RL.11-12.4

CCSS.RL.9-10.4

another person gives you money that you will then need to pay back

• borrow
• purchase
• scarce
• labor

to obtain by paying money for an item or a service

• income
• purchase
• saving
• salary

Tags

CCSS.RI.11-12.4

CCSS.RI.9-10.4

CCSS.RL.11-12.4

CCSS.RL.8.4

CCSS.RL.9-10.4