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Money in the Real World

Glossary

Barter/Trade:
Exchanging one item for another without using money
Budget:
An overall plan for your money
Deposit:
Something, like money, which is entrusted for safe keeping, such as in a bank.
Inflation:
The yearly increase of prices on all goods and services
Interest:
Money added to the cost of a loan or to the balance of a savings account
Loan:
Money you get by promising to pay it back
Needs:
Things that you have to have to survive
Paycheck:
A check issued to an employee as payment for work.
Saving:
Putting money back to use later on
Savings Goal:
The amount of money you are trying to save for, representing an item you want or need
Taxes:
Money you have to pay the government when you buy an item
Unexpected Expenses:
Things you have to pay for that you did not originally know about
Wants:
Things that you would like to have but do not need to survive

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