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Unit 8: Personal Finances & CreditWhat is a budget? ___________________________________________________What is income? ___________________________________________________What are expenses? _________________________________________________What is a:Balanced budget? ____________________________________________Budget surplus? _____________________________________________Budget deficit? ______________________________________________What is credit? _____________________________________________________Where do people go to borrow money (sources of credit)?________________________________________________________________________________________________________________________________________________________________________________________________________________Credit Terms:Credit TermDescriptionLenderBorrowerInterestAnnual Percentage Rate (APR)Credit RatingCollateralBankruptcyWhy should people save money? _______________________________________ __________________________________________________________________What is the advantage of putting savings in a bank? _______________________________________________________________________ ____________________________________________________________What are the different kinds of savings accounts individuals can save money in pg(556):Type of AccountDefinitionReturn Time FrameBank Savings AccountCertificates of DepositMoney Market AccountsU.S. Savings BondsWhat are investments? _______________________________________________ __________________________________________________________________Besides savings accounts what are other ways in which people can invest their money?Stocks _______________________________________________________________________________Dividend ______________________________________________________________________Bonds _______________________________________________________________________________Mutual Funds _________________________________________________________________________Making a Bank BrochureYou are going to make a brochure for your bank. You should include the following:What types of services you offer ................
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