Financial Foundations
This is the first Financial Foundation.
What is an emergency fund?
This type of budget assigns every dollar a job.
What is a zero-based budget?
This is the best method to pay off debt.
What is the debt snowball?
The most important factor when choosing a college.
What is affordability?
Total amount of money earned before deductions.
What is gross income?
This Financial Foundation focuses on eliminating debt.
What is get out and stay out of debt?
These are the four parts of a budget.
What are income, saving, giving, and expenses?
This is the original amount borrowed on a loan.
What is principal?
Average time to pay off student loans.
What is 20 years?
Income after taxes and deductions.
What is net income?
This Financial Foundation means paying for your vehicle without loans.
What is cash for a car?
This type of expense includes eating out.
What is a discretionary expense?
This measures your creditworthiness numerically.
What is a credit score?
Financial aid that does not need to be repaid.
What is gift aid?
Form used to determine tax withholding.
What is a W-4?
This Financial Foundation emphasizes avoiding student loans.
What is pay cash for college?
This mindset strategy helps resist impulse buying.
What is talking to yourself in the third person?
This occurs when you owe more than something is worth.
What is negative equity?
This compares cost of college to future earnings.
What is return on investment (ROI)?
Tax on money you earn.
What is income tax?
This Financial Foundation focuses on building wealth and generosity.
What is build wealth and give?
This percentage represents behavior in money management.
What is 80%?
This is a legal claim on property until a debt is paid.
What is a lien?
This is the main danger of student loans.
What is delaying wealth-building?
Two programs included in FICA.
What are Social Security and Medicare?