Budget Bamboozle | Baamboozle - Baamboozle | The Most Fun Classroom Games!

English 20 Public

Learning terms for financial literacy and budgeting

Study Slideshow

What is a Budget?

A plan to save and spend your money

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What is Bankruptcy?

When someone doesn't have enough money to pay their debts.

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What is a Lease?

A contract granting the use of a property for a specific length of time and dollar amount.

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What is Net Income?

How much your pay check is AFTER your payroll deductions have been taken out such as taxes, health insurance, etc.

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What is Income?

Any money an individual receives typically through having a job.

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The additional amount of money you pay to a bank to borrow money.

Interest

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What is a late fee?

An amount of money you have to pay on all types of credit for not making a payment on time.

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What is a Need?

Needs are a special kind of want and refer to things we must have to survive, such as food, water, and shelter.

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What is a Want?

A desire for things we would like to have but do not need.

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Lowest amount of money a customer can pay on their credit card to remain in good standing with the credit card company.

Minimum payment

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Money you receive when you sell something for more than it cost you to buy.

Profit

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The deposit of money electronically into a bank account rather than through a physical, paper check.

Direct Deposit

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When your spending and savings are more than your income, then you are...

over budget

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When your spending and savings equal your income, then your budget is

Balanced

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This is the term for when you spend your money...

Expenses

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This is the money you receive

Income

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