Adulting 101: Personal Finance

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 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 this called?

• A Check

• A credit card

• A debit card

• Money Order

paying for something with money that is borrowed and must be paid back, usually with interest

• credit
• income
• resources
• salary

What is an emergency fund?

• A savings account set aside for unexpected situations.

• A way to invest for retirement.

• Something most people don't need, because emergencies are rare.

• An investment account that can grow over time.

What is not an example of money?

• Cash

• Debit Cards
• Credit
• Checks

Which card takes the money out of your account immediately?

• Credit 
• Debit

This type of interest "creates a mathematical explosion," and it can make you wealthy over time, or keep you in debt for a long time.

• compound
• sinking
• annual

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

• interest or APR

• savings plan
• scarce
• purchase

What is a credit score?

• a three-digit score that tells lenders how much money you make each year.

• A five-digit numerical rating that reflects how likely you are to repay your debt.

• A three-digit numerical rating that reflects how likely you are to repay your debt.

• A credit score is a five-digit numerical rating that reflects how likely you are to fail at paying your debts