Month-to-Month
Money earned from working.
What is income?
This type of bank account is used to pay bills.
What is a checking account?
A loan to cover the costs of attending college which must be repaid after leaving college.
What is a student loan?
Digital money like Bitcoin, Ethereum, and Litecoin.
What are cryptocurrencies?
A plan that estimates how much money you will make and spend.
What is a budget?
This type of bank account is used to save money, may pay a slightly higher interest rate than a regular savings account, but is not insured by FDIC.
What is a money market account?
A loan distributed for the purchase of real estate with specifc payment periods and interest.
What is a mortgage?
When the price of commonly purchased goods rises over time.
What is inflation?
Money saved to pay for 3 to 6 months of living expenses if you lose your income.
What is an emergency fund?
This type of card is used to pay for things directly from you bank account.
What is a debit card?
This is extra money you pay back on a loan above what you originally borrowed.
What is interest?
A share in the ownership of a public company.
What is a stock?
A budget plan that commits 50% of your income to fixed expenses, 30% to , and 20% to savings.
What is a 50/30/20 budget?
This type of account allows you to buy and sell different stocks.
What is a brokerage account?
This is a retirement savings account where you put in money now and do not have to pay taxes on withdrawals when you retire.
What is a Roth IRA?
A budget plan that commits you to cutting your living expenses way down, saving at least 50% of your income for investments, and then retiring early and living off your investments.
What is the firexxx budget?
This type of retirement savings account is offered by many non-government employers for their employees.
What is a 401k account?
This is a portfolio of investments that you can buy shares of from your brokerage account. It trades on an exchange just like individual stocks.
What is an exchange traded fund or ETF?