Taxes and Inflation
A tax on wages or salary (amount earned) paid to both state and federal governments.
What is income tax?
Borrowing or buying with an agreement to pay later.
What is Credit
An emergency fund to pay for unexpected expenses such as illness or car repairs.
What is Saving for a rainy day
A personal budget should account for these two line items.
What is revenue and expenses?
Most loan company's require the loans to start being paid back how long after you graduate?
What is 6 months
A compulsory contribution to state revenue, levied by the government on workers' income and business profits, or added to the cost of some goods, services, and transactions.
What is a Tax
Rainy day funds are part of creating a _______ ______ ______
What is a good savings plan
Who owns banks?
Owned by investors and are for-profit businesses.
A tax paid to a governing body for the sales of certain goods and services.
What are some options for storing rainy day funds?
What is Savings Account Certificate of Deposit, Money Market Account, Retirement Account, Mutual Funds, Stocks, bonds are other options as well.
What are the three types of financial institutions?
What are Banks, Credit Unions, and Thrift Banks.
A tax that is paid on your home.
What is a property tax?
•The maximum amount of money that can be charged to a given credit card account at any given time. It’s important to know what your credit line is so that you don’t spend beyond that amount.
What is Credit Line
What are some other options for keeping a rainy day fund?
What is What is Savings Account Certificate of Deposit, Money Market Account, Retirement Account, Mutual Funds, Stocks, bonds are other options as well.
What is a credit union?
Not-for-profit and member-owned.
The overall increase in prices of goods and services over time.
What is inflation.
Why is having a rainy day fund important?
Just in case
What is a Thrift Bank?
Specialize in home loans and serving small businesses within the community.