Personal Finance April 17, 2015

Money Management Everyone must make ___________ about what to do with their ___________, including you Income is money ________________ You may have an allowance, receive money as a gift, or have a job and earn a paycheck

Income Choices For the most part, you only have _______ choices about what to do with your income: ________ it or _________ it Savings is the ____________ that a person has __________ spent after buying things that they want. It is put aside for later. To help make decisions about what to do with their money, a person can create a __________ A budget is a _______________________ plan, based on estimated _____________ and ______________ for a person

Investing Investing involves putting money __________ in order to receive a greater benefit in the _____________ Often, that greater benefit is ____________ or a profit Interest is a fee for the use of money This is a form of _____________ Money can be invested in financial ____________ such as bank accounts, stocks, or mutual funds. Having a good financial plan allows you to plan for both your ___________ and your ____________

Credit Credit is purchasing a good or service without ______________ payment Common forms of credit include ________ loans, mortgages, and credit cards ___________ loans are used to help people pay their tuition on credit while in college While credit is extremely _____________ to the economy, it can be ________________ if you buy too much on credit and do not have the ____________ to pay it back.

Questions 1. What is income? 2. What are some ways that you can earn income? 3. What are your 2 income choices? 4. What is savings? 5. What is a budget? 6. What is investing? 7. What is interest? 8. How can money be invested? 9. Why is having a good financial plan important? 10. What is credit? 11. What are some common forms of credit? 12. How can students use credit? 13. How can credit be dangerous?