Personal Finance$ Word Scramble
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Question | Answer |
What are Personal Money Management Choices? | the ways you choose to save or spend money |
What is income? | earning money, wages, interest, dividends, or profits from a business |
How does education impact your expected income? | the more education you receive, the higher your expected income |
What are the benefits of having a monthly budget? | it makes you increase financial awareness and manage funds more effectively |
How do you balance your budget? | you keep your expenses less than your income |
When is it a good idea to borrow money (use credit)? | to buy something you can't save up for |
What is the amount charged to use borrowed money? | interest |
What is the minimum payment on your monthly credit card bill? | the lowest amount you can pay per month |
How can you avoid paying high finance charges on credit cards? | pay off the bill in full each month |
What types of credit should be paid off first? | those with higher interest rates |
Why is it important that you pay credit card bills and other loans on time? | avoid a late fee penalty, maintain a high credit rating, get opportunities to use credit for future purposes |
What is investing? | using money to make more money |
How is investing different from saving? | they involve risks, have higher interest, require more time |
What are the benefits of investing your money? | help you make more income and have wealth |
Created by:
qwerty4572
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