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Managing Your Money
Question | Answer |
---|---|
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Debit Card | Money withdrawn directly from your account to make a purchase |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 |