Understanding Personal Finance Basics

Front

Budget

Back

Plan for spending and saving money

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DOK Level 1: Recall

Front

Importance of a budget for a trip

Back

Manage money and reach travel goals

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DOK Level 2: Skill/Concept

Front

Income

Back

Money earned from work or other sources

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DOK Level 1: Recall

Front

Monthly budget expense

Back

Rent payment

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DOK Level 1: Recall

Front

Short-term financial goals

Back

Achievable within 3 months to a year

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DOK Level 1: Recall

Front

Long-term goals vs Short-term goals

Back

Long-term goals require more planning and time

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DOK Level 2: Skill/Concept

Front

Pay Yourself First

Back

Save a portion of income before other expenses

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DOK Level 2: Skill/Concept

Front

Taxes

Back

Money paid to government for public services

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DOK Level 1: Recall

Front

Gross income vs Net income

Back

Gross income is before taxes, net income is after taxes

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DOK Level 2: Skill/Concept

Front

Paycheck stub details

Back

Earnings, taxes, deductions

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DOK Level 1: Recall