1
should you pay your rent or your netflix bill first?
rent
true or false: when you get your paycheck you should immediately spend it all on clothes and shoes at the mall
false
what is a list of planned expenses and income called?
a budget
name 3 things included in your budget
rent, utilities, cell phone, groceries,.....
what does it mean to withdrawal money from your account?
to take money out
Income that is not used... money set aside for future use.
savings
your water bill would be considered part of what category - rent, utilities, or entertainment?
utilities
what is one way to lower the cost of your rent?
getting a roommate, not living in the city/ expensive areas , .....
what does it mean to deposit money into your account?
to put money into your account
what is the difference between monthly income and annual income?
monthly income is the amount you are paid per month, annual income is the amount you are paid per year
using a worksheet, excel spreadsheet, etc.
a record of your deposits, withdrawals, and balances in your account is called what?
your bank statement
why is it important to budget your money?
to keep track of your income, how much your are spending, save up for things, etc.
The amount of money earned, before deductions,on your paycheck
gross pay
A check that is retuned to the bank because there isn't enough money in the account to cover it is called ???
a bounced check