Personal Finance Vocabulary #1

Account where you put money to be held for a long period of time.

• checking account

• savings account

• asset

• credit card

The account that you can use to make payments with a check.

• checking account

• savings account

• credit card

• finances

If you use a credit card,

• You may have to pay interest in addition to purchase price

• You can make purchases you do not have the money for.

• You never have to pay back the money.

• You have to pay back the money you spend.

The amount you are paid for each hour you work.

• paycheck

• savings account

• asset

• hourly wage

A monetary penalty for doing something wrong.

• Bonus

• Fine

• charge

• income

A monthly payment for services or products.

• financial literacy

• wage

• bill

• codes

When more money is spent than available in an account. Usually results in fines.

• overdraft

• fine

• saving

• careful budget planning

Bills that you currently pay each month:

• Rent for desk/computer

• Electricity

• Internet

• Car insurance

Types of accounts you have

• Savings

• Credit Card

• Checking

• Subscription

If your hourly wage is $10, how much do you make in a 40 hour week?

• $200

• $400

• $40

• $100