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19 Cards in this Set
- Front
- Back
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What is a budget?
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A spending and savings plan
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What is a check register
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A place to record written deposits and checks
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What is credit?
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A promise to pay in the future
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What is a loan?
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Borrowing money and paying it back
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What is a deposit?
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When you put money in your account
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What do you do when you sign a check?
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You endorse it
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What are expenses?
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What you spend your money on
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What is income?
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Money you get paid
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What is interest?
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The money the bank pays you for the use of your money
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What is a debit card?
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A card that takes money directly out of your account
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What is a gift card?
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Pre-paid cards good at one store
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What is a pin?
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A number that lets you access your account
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What are fixed expenses?
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The same costs every month
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What are flexible expenses?
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Different costs every month
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What does it mean to "cosign"?
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You promise to pay if the person who took out the loan does not pay
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What is a checking account?
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An account that allows you to spend money from it
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What is a savings account?
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An account that you keep money in and earn interest on it.
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What is a credit rating?
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A number that tells banks and other businesses if you are responsible with your money.
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FACS 7 Money Management
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FACS 7 Money Management
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