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BC Playing BC Ch 2

Playing Budget Challenge

TermDefinition
Budget Challenge personal finance game simulating the financial life of a working adult.
Trophies 1,000 points
401(k) Retirement plan
Vendors companies you owe money to
Budget plan for how to manage your money
Cash Flow Budgeting Tool allows you to project future cash needs
Direct Deposit check is automatically deposited into your account
Grace Period the extra amount of time you have after the due date to pay a bill without penalties
Monthly Credit Card Charges $600 to $900
Minimum payment the least you should pay
Minimum payment credit card amount $15.00
Interest money paid on unpaid balances
Credit Limit the most you can spend on your credit card
Credit Limit amount on credit card $1500
Pending Checks checks written but not yet cashed
Invoice bill
Overdraft occurs when you don't have enough money in your account
Savings Account the overdraft account
e-check the checks you send to pay invoices
Created by: Nancyp28
 

 



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