Bank Account
Your own money in the bank
Debit
money the government takes from you on income and purchases
Taxes
Give one example of a "need" and one example of a "want"
Need: food, clothing, paying bills, water, rent
Want: video game, takeout food, fancy clothes, iPhone
A loan from the bank
Credit
Types of tax
Sales tax and income tax
Restriction on the amount of money a person can spend
Spending limit
Putting money in the bank
Deposit
When is the deadline to file taxes?
April 15 (usually)
The bank gives you money that you have to pay back, including interest
Loan
Taking money out of the bank
withdrawal
Form that your boss has to give you so you can file taxes
W-2
Money the bank charges you when you borrow money from them
Interest rate
Types of bank accounts
Checking and Savings
What does a W-2 show
Yearly earnings and deductions
Types of student loans
Private and Federal