Fin Lit Vocab Weeks 5 + 6 MP1

What do you call an organized plan for saving and spending based on your expected income and expenses?

• Paying Yourself First

• Budget

• Impulse Spending

• Surplus

Tags

CCSS.7.RP.A.1

CCSS.7.RP.A.2

CCSS.7.RP.A.3

Money earned in exchange for work, or received from investments, allowance, or gifts

• Surplus

• Deficit

• Income

• Expenses

Tags

CCSS.7.NS.A.3

CCSS.7.RP.A.2

CCSS.7.RP.A.3

The things people pay for with their money

• Surplus

• Deficit

• Income

• Expenses

Tags

CCSS.7.RP.A.1

CCSS.7.RP.A.2

CCSS.7.RP.A.3

A fixed regular payment, typically paid on a monthly or biweekly basis but often expressed as an annual sum, made by an employer to an employee

• Salary

• Deposit

• Hourly Wage

• Earnings

A labor market characterized by the prevalence of short-term contracts or freelance work as opposed to permanent jobs

• Free Market Economy

• Gig Economy

• Paying Yourself First

• Emergency Fund

When an amount of money is left over after expenses have been paid

• Surplus

• Deficit

• Income

• Expenses

A situation where there is not enough money to cover expenses

• Surplus

• Deficit

• Income

• Expenses

An amount of money set aside to cover bills in case you need it

• Deficit

• Budget

• Emergency Fund

• Surplus

Making purchases without comparing costs or benefits beforehand

• Budget

• Impulse Spending

• Emergency Fund

• Paying Yourself First

The concept of putting aside a sum of money into savings each month before paying other bills

• Paying Yourself First

• Emergency Fund

• Budget

• Surplus