| A | B |
|---|
| A plan for saving and spending money based on your income and expenses | budget |
| determine wants and needs, prioritize, estimate income and expenses. | 3 steps for creating budget |
| Expenses you have already agreed to pay and that must be paid by a particular date | fixed expenses |
| expenses that vary each month | flexible expense |
| Distinguishing between wants and needs and deciding which are most important | prioritizing |
| increase your income and cut down on your expenses | 2 ways to check budgeting progress |
| carry a limited amount of cash,shop smart,pay with cash | tips for staying on budget |
| your accountability in money | financial responsibility |
| Developing a strategy to meet present and long-term financial needs | financial planning |
| an economic condition where prices rise but wages do not resulting in decreased consumer buying power | inflation |
| increase in unemployment is a characteristic of which part of the economic cycle | recession |
| places you can go for financial help | government agencies, banks, schools |
| examples of economic changes that a person would need to alter their budget for. | inflation and recession |
| paperwork ALL students who want to receive financial aid MUST fill out | FASFA |
| financial aid that does not have to be repaid | grants |
| financial aid that does not have to be repaid typically awarded for academic standings or athletics | scholarships |
| financial aid that must be repaid | loans |
| term that money given to students for the purpose of college | financial aid |
| the period of time a student has after graduating/dropping out/ or dropping below part time before they must begin to pay back their student loans | grace period |
| month, during senior year of high school must students submit a FASFA in order to receive financial aid the following year | March |
| how often must a student fill out a new FASFA | once for every year they wish to receive aid |
