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Budget Vocab
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This is something you need to have to live.
a NEED
This is something you wish for, but you do not require it to live
a WANT
A plan to to help you understand your savings and your expenses
A budget
The extra money you pay to a bank when you borrow money
Interest
The building where you put money to save it or to spend it
A bank
This account is accessible through writing checks or a debit card
Checking Account
This account is where you put money you want to save
Savings Account
This is the money you receive for doing a job
Income
This is the money you receive from your parents for doing chores
An allowance
This is the term for when you spend your money...
Expenses
This is the paper you fill out to deposit money into your bank account
A deposit slip
This is the paper form you fill out to pay someone
A check
When your spending and savings equal your income, then your budget is
Balanced
When your spending and savings are more than your income, then you are...
over budget
You can use this plastic card to get money directly out of your bank account without paying interest
A debit card
You can use this plastic card to pay for items and be billed later with interest
Credit card