Budget
total pay from an employer prior to deductions
What is gross income?
Acceptable personal investments for which a loan may be needed (when kept within reasonable limits)
What is education and home?
An account use for everyday purchases and can not be withdrawn below $0 without a penalty
What is a checking account?
Permission for and subsequent electronic orders for the bank to make a payment against a person's checking account when they make purchases. This typically has fewer protections against fraud.
What is a debit card?
used to off-set the costs of college but must be paid back 6 months after the end of your education
What are student loans?
daily or weekly accounting of purchases to aid in budgeting
What is tracking spending?
exchanges in which shares and other financial securities of publicly held companies are issued where "buy low, sell high" mantra is often used
What is the stock market?
an automatic transfer of funds into a bank account
What is direct deposit?
Items used to calculate this involve your payment history, number of credit cards, your credit history, the amount owed
What is your credit score?
College is often the first time student look at getting a credit card, what are two things to look for when selecting/comparing a credit card?
What are APR, fees, grace period, credit limit, late fees?
2 examples of fixed expenses
what are rent, utility bills, insurance, tuition?
special fund which people pay money into so that, when they finish employment, they will receive money regularly as a pension. It often has an age requirement to withdraw funds
What is a retirement fund like a 401K?
a nonprofit-making money cooperative whose members can borrow from pooled deposits at low interest rates. Some may or may not be FDIC insured
What is a credit union?
this value is used to determine the additional amount you will pay when borrowing money or using credit
What is APR or annual percentage rate?
what are 3 additional costs to owning a car beyond just the purchase price?
What are depreciation costs, Interest on loan (if buying on credit, Insurane, fees and taxes, Gasoline, Maintenance and repairs
social security, health insurance, taxes are all examples
What are payroll deductions?
Considered a safe low risk investment where government guarantees a specific rate of return to allow them to borrow funds
What is a government bond?
as an example Billy puts $100 a month into a savings account that has an interest rate of 2% and after 5 years he has $127.62
What is compound interest?
The amount required to pay within a monthly credit card bill
What is the minimum payment?
Additional costs when moving into a new place beyond the advertised rent, name 2
1st and last months Rent for first month, Cleaning deposit, Security deposit, Utilities, moving costs
an agreement where a company or government agency provides compensation for specified loss, damage, illness, or death in return for payment of a premium
What is insurance?
an investment program funded by shareholders where trading is in diversified holdings and is professionally managed.
What is a mutual fund?
This agency protects the money a depositor has in a bank up to $250,000
What is the FDIC (Federal Deposit Insurance Corporation)?
The maximum amount that you may be required to pay for unauthorized charges to a credit card
$50
2 steps to include when preparing for a job interview
1. Research the organization. 2. Practice your interviewing skills. 3. Prepare questions that you plan to ask. 4. Prepare proper dress and grooming. 5. Plan to arrive early at the interview.