Dollar and Sense
What is financial personality?
Your financial personality is whether you like to save or spend your money.
What is a variable expense?
A variable expense is a cost that changes in amount from month to month based on usage and consumption.
What is a need?
A need is something essential for survival, functioning, or well-being.
What is income?
Income when you get money from work or other sources.
What is a budget?
A budget is a plan you can make to help manage and save your money.
A bank is only safe if it is approved by what?
FDIC - Federal deposit insurance corporation
What does SMART stand for?
Specific
Measurable
Achievable
Relevant
Time Value
What is Net Income?
Net income is the income remaining taxes and deductions.
What is an identity theft?
Identity theft is when someone steals your personal information fraudulently.
What is gross income?
The total income before paying taxes and deductions
What is opportunity cost?
Opportunity cost is the value of the next best alternative you give up when making a decision.
What is a want?
What is Disposable income?
The money you have left over after paying taxes.
What is digressionary income?
The money left over after paying taxes and basic needs (eg:house)
What is a fixed expense?
A fixed expense is a predictable, recurring cost that remains the same amount each payment period (monthly, quarterly, or annually).