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Personal Finance

Personal Finance. April 14, 2014. 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.

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Personal Finance

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  1. Personal Finance April 14, 2014

  2. 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

  3. 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

  4. 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 __________

  5. 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.

  6. 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?

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