Cards
What is a Debit Card?
Similar to compromising: exchanging one thing for another, usually of equal value.
What are Trade-offs?
Taxes set specifically to aid/benefit the Federal Government.
What are Federal Taxes?
The US department responsible for formulating and recommending economic, financial, tax and fiscal policies.
What is the U.S. Treasury Department?
The principle that the purchasing power of money can vary over time?
What is The Time Value of Money?
The type of card an individual can use billed on their cahrge account. The person will also be responsible for the interest charges that may accumulate on the card.
Monthly expenses that the dollar amount fluctuates per month.
What is a Variable Expense?
The circumtances of a taxpayer that allows them to make certain deductions from taxable income.
What is an Exemption?
The revenue service for the US Federal Governement responsible for collecting taxes and enforcing the Interal Revenue Code.
What is the IRS?
The term investors and fincancial advisers use to tell the invidual to put money in their savings account then pay the bills.
What is "Pay Yourself First"?
What is a Gift Card?
Money set aside for an unplanned costly event.
What is an emergency fund?
A statement of no value announcing that value of an individual's net pay.
What is a Pay Stub?
The 12 specific banks housed for the Federal Reserve. Richmond serves as the branch for District #5.
What is the Federal Reserve Bank?
The amount of money an individual recieves back from the IRS anfter having filed their taxes.
What is Tax Refund?
Switching money from one account to another
What is an Electronic Transfer?
The spending money left over at the end of each pay period/month after all the mandatory responsibitlies have been deducted.
What is Discretionary Income?
The amount of money an individual makes before any deductions are withheld.
What are Gross Wages?
The cental banking system of the Unitey States Government.
What is the Federal Reserve System?
Any of the various benefits an employee recieves in addition to their regular pay. For example paid holidays.
What is a Fringe Benefit?
The amount an account charges for money borrowed, ususally shown as a percentage.
What is an Interest Rate?
Costs that do not change per month. You pay the exact same amount each and every month.
What is a Fixed Expense?
Unexpected money received, like an inheritance or lottery winnings.
What is Windfall Income?
The increase in general price levels for goods and services.
What is Inflation?
Having the ability and the means to purchase an item.
What is Buying Power?