| A | B |
|---|
| wants | to wish,desire or crave |
| needs | things you have to have to survive |
| opportunity cost | giving up one thing to be able to get another |
| budget | a spending plan, a plan of how to spend your money |
| money market fund | a form of savings that requires a certain amount of money to start and limits your access to that money |
| savings account | a place to put money with the intention of leaving it there for a while |
| certificate of deposit (CD) | a method of savings that requires a specific amount of money to be left in the account for a specific period of time HIGHEST INTEREST RATE |
| income | money earned |
| pay yourself 1st strategy | a strategy that involves you putting money in savings before you do anything else with it, even pay bills |
| gross income | total amount of money made before deductions are taken out |
| net income | amount of money made after deductions are taken out, also called take home pay |
| financial institution | a business used for storing money, most common is a bank |
