Intro to Personal Finance

A person or organization that uses a product or service

• Consumer

• Personal finance

• Economy

• Interest

A period of temporary economic decline during which trade and industrial activity are reduced; generally identified by a fall in gross domestic product (GDP)

• recession

• failure

• crash

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 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

What is a budget?

• A plan for how money will not be used

• A plan for how money will be used

• The amount you spend

• The amount you save

What is income?

• The amount you spend

• The amount you don't save

• Money taken in

Tags

CCSS.5.NBT.A.3B

the work a person does

• labor
• income
• salary
• resources

Small supply of goods+high demand for product=

• Prices Goes Up
• Price Goes Down
• Price Stays the Same

What is not an example of money?

• Currency
• Debit Cards
• Credit
• Checks

Buy something now and pay for it later. 

• Credit
• Debit
• Investing
• Spending