Banking
Protects if you do not have enough money in your checking account
Overdraft protection
Amount of money you actually get to take home after all deductions are taken.
Net pay
Name 3 things to consider when buying a car
Price comparisons
Gas mileage
Interest Rates
Negotiations
Fees
What is the 50, 30, 20 Rule
50% Needs
30% Wants
20% Savings
Sum of money placed in bank account
Deposit
Allows a customer to deposit and withdraw money and earn interest on the balance
Savings Account
The amount of money you earn before any withholdings.
Gross Pay
A percentage of money you pay up front for a car
Down payment
Finish the phrase "If you don't have, it___________"
Don't spend it
A public health insurance plan available to low-income families and individuals.
Medicaid
Provides a convenient way to access money in your checking account, including at ATM's
Debit Card
Name 3 withholdings from a paycheck
State taxes
Federal Taxes
FICA
Workers compensation
Retirement
Health Insurance
Name 3 things besides the sticker price of the car that you will need to pay for
Title registration
License Plates
Taxes
Insurance
Gas
Maintenance
Gas and Groceries are an example of which type of expense?
Flexible
How long can you be on your parent’s health insurance?
Until you are 26 years old
Your money is insured, you can transfer money online, you may be able to get overdraft protection, you are unlikely to earn interest
Checking account
A form you must complete for your employer which basically explains your tax situation.
W-4
The maximum amount Ave. Scholars will match on the car savings plan?
$3,000
Give an example of a fixed expense
Rent/mortgage
Car payment
Utility bills
What are 2 ways to pay for college without having to pay the money back?
Grants
Scholarships
An independent agency that insures your money is safe and supervised while in a financial institution such as a bank or credit union.
Federal Deposit Insurance Corporation OR FDIC
A form needed to file your taxes?
W2
10,000 car with an interest rate of 5% with a 60 month term. What is the monthly payment?
$175
Earn more than you spend
Name 2 things that should be shredded before throwing away
Expired Credit Cards
Cancelled and voided checks
Anything with SSN
Anything with personal information