Adulting 101: Personal Finance

Front

What is a budget?

Back

A plan for how money will be used

Front

What is variable expense?

Back

An expense that costs different amounts every month

Front

What is this called?

Back

A Check

Front

paying for something with money that is borrowed and must be paid back, usually with interest

Back

credit

Front

What is an emergency fund?

Back

A savings account set aside for unexpected situations.

Front

What is not an example of money? Cash, Debit Cards, Credit, Checks

Back

Credit

Front

Which card takes the money out of your account immediately? Credit, Debit

Back

Debit

Front

This type of interest "creates a mathematical explosion," and it can make you wealthy over time, or keep you in debt for a long time.

Back

compound

Front

The cost of borrowed money, usually expressed as a percentage.

Back

interest or APR

Front

What is a credit score?

Back

A three-digit numerical rating that reflects how likely you are to repay your debt.