EverFi Vocabulary

Define Budget

• a plan that someone else makes for you

• a plan for spending or saving money that is made up of income and expenses

• a type of insurance that covers damages to cars

• a fixed fee you pay for medical services

What is a community college?

• an agency that tracks a borrower’s credit and payment history to determine their credit score

• a major university located in a big city

• A school you go to after high school

• typically a two-year higher education institution, also known as a junior college that costs less than a four-year college

True or False: Expenses are money you spend. This includes everything you buy, such as food, concert tickets, or even a pack of gum

• True

• False

Fixed expenses are expenses that occurs regularly. This amount typically does not change from month-to-month. What is an example of a fixed expense?

• Video game

• Eating at a restaurant

• Electricity Bill

• Going to the movie theater

Define High School Diploma

• the degree you receive when you graduate middle school

• the degree you receive when you graduate elementary school

• the degree you receive when you graduate from high school

• the feeling you get when you reach the next level on call of duty

What is a "need?"

• when referring to budgeting, a need is an expense that you can’t live without

• when referring to budgeting, a need is an income you make

• when referring to budgeting, a need is an expense that you can live without

• when referring to budgeting, a need is something you want

What is a "want?"

• when referring to budgeting, a want is something you need

• when referring to budgeting, a want is a way to get paid from someone else

• when referring to budgeting, a want is getting a new house

• when referring to budgeting, a want is an expense that you would like to have and is not an absolute necessity.

True or False: Total revenue is the amount of money left over each month after paying expenses

• True

• False

What is a scholarship?

• is money paid for by a student to go to college

• is a specific amount of money given to a student to help pay for their education

• is something no one gets because colleges want to make money

• is a way to pay for buying a house

What makes a good password?

• A mix of letters, numbers, and symbols you'll remember

• Something you can remember, like your age and pet's name.

• A word in a foreign language.

• A random mix of letters and numbers.