Unit 6 Review

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

What is variable expense?

• The amount of money you spend

• The amount of money you save

• An expense that costs different amounts every month

• The variable in math

What is investment?

• money spent on something with the goal of making more money

• money spent on other things

• money spent on saved products

What does this represent?

• Spending money

• Spending pennies

• Saving money

• interest

What is this called?

• A Check

• A credit card

• A debit card

• Money Order

The cost of borrowed money, usually expressed as a percentage.

• interest
• savings plan
• scarce
• purchase

401(k), IRA, and Roth IRA are all examples of a __________ account.

• Retirement
• College Savings
• Low Interest
• Stock

This is an obligation of repayment, usually including principal plus interest; any time you owe someone money.

• compound interest
• emergency fund
• APR
• debt

Term that applies to the ability to buy something now and pay for it later over a period of time (usually with having to pay a finance charge and/or the addition of interest). 

• Savings
• Profit
• Budgeting
• Credit