Personal Finance

Why is it important to set aside money for the future?

• To spend more on luxury items

• To have funds available for future needs or emergencies

• To lend money to friends

• To pay more taxes

You get a new job that pays double your current salary. What's the first thing that you should do?

• Buy a luxury car
• Go on a fancy vacation

• Spend all the money on unnecessary items
• Create a budget you can spend your money wisely

What would have the HIGHEST RISK of losing money with no benefit?

• Loaning money from the bank

• Loaning money to your friend

• Buying a new video game you love

Answer explanation

You lose money buying a video game, but at least you get a benefit- a new game!

What would NOT be an important expense in a budget?

• Entertainment

• Health Insurance

• Savings

• Rent

Saving money allows you to...

• use all your money

• spend all your money

• have extra cash to buy everything you want

• have extra cash for emergencies

Match the following

• Budgets help plan how to spend & save...

• 
• A benefit of a savings account. 🏦

• 
• Anything you spend money on.

• Debt

• Budgets help you NOT get in.....

• Expenses

• A reason to budget and save your money..

• your income.

Match the following

• Saving

• 
• Income

• 
• Budget

• 
• Unplanned Expenses

• 
• Debt

• 

What is credit?

• Money borrowed from a lender with the promise it will be repaid.

• Saving money for future purchases.