Savings Personal Finance

Interest paid on an investment and on any interest previously earned.

• compound interest

• simple interest

• liability

• asset

All the money decisions a person or family makes including earning, budgeting, saving, spending, and planning for the future.

• budget

• expenses

• personal finance

• scarcity

A federally recognized, tax-exempt organizations such as a church, hospital, charity, or school that serves the public in some capacity.

• consumer

• scarcity

• profitable organization

• nonprofit organization

The charge for borrowed money generally defined as a percentage; also, the earned interest on money you save or invest.

• principal

• time

• interest

• balance

A monthly plan for how you are going to save and spend your income.

• expenses

• credit

• budget

• liability

The amount of money you should have in your emergency fund.

• $100

• $300

• $500

• $700

The process of putting money into an account

• ATM

• deposit

• withdrawal

• overdraft

a strategy for using money to reach important goals and to advance your financial security

• savings plan

• SMART goal

• emergency funding

The first step in a savings plan is to

• put money into savings account

• spend money on discretionary expenses

• pay the bills first, then put money into savings

an amount of money you can easily access in case of a job layoff, illness, or unexpected expense

• savings account

• checking account

• emergency fund