Smart future

Question 1

Associate’s degree

Answer 1

a type of degree that typically takes two years of full time study after high school and is dedicated training toward a specific career or skill

Question 2

Bachelor’s degree

Answer 2

a type of degree that normally takes four years of full time study, also known as an undergraduate degree. You can earn a Bachelor of Science or Bachelor of Arts degree.

Question 3

Masters degree

Answer 3

after completing a bachelor’s degree, you can continue on to complete a master’s program in a variety of fields. This type of degree typically takes one or two years, but can sometimes be completed on evenings and weekends, while you’re working

Question 4

Doctor degree

Answer 4

that is highly specialized in regards to a specific profession and typically takes three to five years to earn after completing your bachelor’s degree

Question 5

Checking account

Answer 5

a type of bank account in which interest is not usually applied to the principal, but offers a safe place to store your money and allows you to make withdrawals using an ATM card, debit card or personal check.

Question 6

Savings account

Answer 6

a type of savings vehicle in which interest is earned on the deposit amount (principal). This type of account usually require a minimum balance, offer lower interest rates, and have restrictions on the number of withdrawals allowed within a given time period.

Question 7

Credit card

Answer 7

a type of savings vehicle in which interest is earned on the deposit amount (principal). This type of account usually require a minimum balance, offer lower interest rates, and have restrictions on the number of withdrawals allowed within a given time period.

Question 8

Debit card

Answer 8

payment type that allows you to make purchases using money directly from your checking account

Question 9

Deposit

Answer 9

when money is added into a bank account, also know as a ‘credit’

Question 10

expenses

Answer 10

the money you’re spending. This includes everything you buy, such as food, concert tickets, or even a pack of gum

Question 11

Budget

Answer 11

a plan for spending or saving money that is made up of income and expenses

Question 12

Fixed expenses

Answer 12

an expense that occurs regularly. This amount typically does not change from month-to-month

Question 13

Variable expense

Answer 13

spending that is based on the purchase decisions you make. These can vary from month to month.

Question 14

Income

Answer 14

Money you earn

Question 15

Profit

Answer 15

Positive earnings

Question 16

Revenue

Answer 16

Money business makes

Question 17

salary

Answer 17

fixed payment

Question 18

Wage

Answer 18

Per hour or day