A plan on how to spend and save money

Setting money aside to use in the future

A fixed amount of income

An hourly rate paid in exchange for labor

Basic needs that a household must pay for

Basic needs does NOT include which of the following?

What are some aspects of a detailed budget?

Where does the money come from for a household to survive on a monthly basis?

A budget is helpful because income is

____ is typically based on hourly exchange for labor.

A ____ is typically a fixed amount over a longer term, such as a year

In a job that pays _________, the person earns a percentage of what they sell

For ______, an employer will continue to pay the employee even after he or she stops working.

Type of income that is based on an hourly exchange for labor

Type of income in which a person earns a percentage of what he or she sells

The minimum amount that a worker can legally be paid

Money that comes from sources such as labor, businesses, or investments.

Type of income that is based on a fixed amount of a long term, typically a year

Type of income that is paid to a worker after he or she stops working on an agreed amount of time, typically 25 or 30 years.

_______ is required for a household to be able to provide basic needs, such as housing, transportation, groceries, etc..

Which of the following is based on hourly exchange of labor for income?

A firefighter or policeman earns which type of income?

A ____ a type of income in which a person earns a certain percentage of what he or she sells

A high-skill job typically pays more than low-skill job

Which of the following is the best definition of minimum wage?

A household's income must

Alice works at a local smoothie store. She goes to college full-time and works part-time. Alice averages 25 hours per week at the smoothie store and make $9.50 per hour. Which type of income best describes Alice's?

Julie does not have enough money to pay for an unexpected surgery for her new puppy. She will have to borrow money on _____

Joel gets a low interest rate on his loan because he has a high ____

Mark has a high ____ on his loan because he has a low credit score.

Sheila has to pay $1,500 in addition to her original loan for ___

A fee for borrowing money

a loan of money

A percentage paid in addition to the original loan payment

A payment made the day of purchase.

Becky received a loan for her new car. She will have to pay $26,500 for the price of the car, plus her ____ of 4 percent over the course of five years.

Josh has to rely on borrowed money to pay for his daughter's wedding. He is relying on ___

Which statement is true?

Bill had to borrow $4,000 from the bank to pay for an unexpected expense. The $4,000 is Bill's ___

Julie and Rachel both have $1,000. Julie uses her $1.000 to pay for her rent. Rachel uses her $1,000 to pay for a portion of her new car payment on the day of purchase. Which statement is true?

Debit

Currency (Cash)

Bank Loan

Coins

Credit Card

Which statement is true.

___________ is a means of buying something now and paying for it later (usually with interest).

Income is money that you earn from working or gain from investments.

A credit card does NOT charge interest, while a debit card does charge interest.

Interest is a fee paid to use to someone else's money.

Currency (cash) is a form of money

A loan is a medium of exchange to buy goods.

A debit card is a form of credit

A credit card is a form of money.

A plan for saving and spending income is a budget.