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Managing Your Money

Fixed Expenses Expenses that people have already agreed to pay and that must be paid by a particular date
Grant Money for education provided by the government, schools, or private donors
Layaway A scheduled payment plan for an item that you receive once the full price has been received
Interest Money that banks pay depositors for use of their money.
Scholarship Money for education rewarded to students because of their need, or for academic or athletic achievement
Debit Card Money withdrawn directly from your account to make a purchase
Work-Study Program A program that allows students to earn their education by working full- or part-time jobs in a related field while they are in school
Credit Allows you to receive a good or service now and pay for it later through a monthly bill
Impulse Buying Making a sudden, unplanned decision to buy
Refund The return of money in exchange for a purchased item
Exchange A trade of one item for another
Check A document that permits the transfer of money from a bank account to a person or business
Loan Borrowed money that must be repaid
Warranty A guarantee that a product meets certain standards of quality
Flexible Expenses Expenses that come irregularly or that people can adjust more easily than fixed expenses
Created by: michael04