9: Personal Money Management

Front

This is a written plan for how income will be used before it is received.

Back

budget

Front

Money coming in to a household or business is called __________.

Back

income, revenue

Front

Some employers will fire you if you have too much ________.

Back

debt

Front

If you cannot repay your debt, you risk _______________.

Back

bankruptcy

Front

"Financial ___________ " refers to the peace of mind you have when you don't have to worry about how you are going to pay your bills since you have managed your money so well.

Back

freedom

Front

To win with money, you must _________ less than you earn.

Back

spend

Front

A mortgage is a special type of loan for a _____________.

Back

house, home

Front

As an adult, around 35% of your income should be budgeted for this category. If you spend more here, you probably won't be able to save much. This is most likely your biggest expense besides taxes.

Back

housing

Front

Most financial experts recommend saving this percentage of your income on a regular basis. Of course, going over that is always good!

Back

5-10%

Front

The money you pay a bank to borrow money OR the money a bank pays you to borrow the money in your account.

Back

interest