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Smart Money Bits: Budgets and Basics

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Money smarts for kids

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Smart Money Bits: Budgets and Basics
 

Smart Money Bits: Budgets and BasicsOnline version

Money smarts for kids

by J
1

Needs are essential items like food and shelter.

2

Interest on savings is the same as money you earn from selling things.

3

Saving part of your money regularly builds an emergency fund.

4

A budget tells you how much you can earn in a month, not what you can spend.

5

A budget helps you plan spending and saving.

6

Interest is money earned on savings in a bank.

7

Debit cards let you spend money from your bank account electronically.

8

Investments guarantee quick profits with no risk.

9

Borrowing always costs nothing and loans are free.

10

Credit cards are exactly the same as debit cards in every way.

11

Emergency funds cover 3-6 months of expenses.

12

Budgeting is only useful if you have a lot of money.

13

Inflation increases your purchasing power.

14

A diversified investment portfolio reduces risk.

15

Investing guarantees quick riches.

16

All savings accounts offer the same interest rate.

17

Credit scores influence loan interest rates.

18

Interest compounding can grow savings over time.

19

Budgeting helps you track income and expenses.

20

Carrying a balance on a credit card will never affect your credit score.

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