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Personal Finance 18

Mrs. Ethridge's 4th Grade, Personal Finance, 2018, 2019

QuestionAnswer
What do I call expenses that change from month to month? variable expenses
This organization helps people save, organize, and manage their money. financial institution
This is a financial plan that helps you organize, save, and spend your money. budget
This is money that is sent aside to use at a later time. savings
This word is a synonym of trade. barter
This is money you earn by doing a job or by receiving an allowance. income
This is the amount of money made after all expenses are paid. profit
This is the price of a product or service which is reduced in order to increase demand. price incentive
This is when businesses or people depend on each other. interdependence
This is how quickly a company can produce a good. productivity
These are expenses that stay the same and do not change from month to month. fixed expenses
This is money spent on things you want or need. spending
This is an example of a fixed expense. Rent, because it usually stays the same from month to month.
This is an example of a variable expense. Grocery shopping, because you probably don't spend the same amount each month.
Amy is getting ready for school. She spent all her supply money on a fancy backpack. What was her opportunity cost? Paper and pencils.
What is an advantage of saving money? You will have money in the future for things you want or need.
Created by: briansegool