Accounts
What is a Spendings account
A Spendings account is an account that tracks your what you spend your money on
Property tax is a local government fee on real estate based on its value.
What is the definition of a want
Something you want, but is not necessary to live with.
What percent of your money should you save
20%
What is unearned income
Unearned income is money you get without working (interest, dividends, gifts).
what is a checking account
an account used for daily spending
What is gift tax
A gift tax is a tax on transferring money or property to someone without receiving equal value in return.
What is water, agua, panni, acqua, eau, wasser
Need
What percent of your money should you spend on wants
30%
What is Earned Income
Earned Income is money you make from working (hourly wages, salary, tips).
what is a savings account
an account for saving money later
What is sales tax
Sales tax is a fee added to the price of goods and services when you but them
What is a bugatti
A bugatti is a want (not neccesary for your survival)
what percent of your money do you spend on needs
50%
Gross income is income that is before taxes and reductions.
What is a student account
A student account is an account designed for teens or college students with fewer fees
What is income tax
Income tax is tax on the money you earn from work or investments.
What is a need
What is a budget
a plan that shows how you will divide your money between spending, saving, and needs
What is net income
Net income is the final profit remaining after all business expenses, taxes, and interest have been deducted from total revenue.
what is a brokeridge account
An account that you use for investing money in the stock market
What is Payroll taxes?
Payroll tax is tax taken from paychecks for Social Security and Medicare
what is Food
Food is a need critical for the survival of humans.
What the definition of a SMART goal
SPECIFIC, MEASURABLE, ACHIEVEABLE, RELEVANT, AND TIMEBOUND
What is passive income
Passive income is income earned from activities in which you are not actively involved on a daily basis.