Assets
This is the most common type of account, and the one that should be used for transactions.
Checking
A mortgage, student loan, or business loan is an example of this type of debt.
Good Debt/ Productive
10 Percent of Your Credit Score and why you should avoiding signing up for Credit Cards just for a discount at the time of shopping
SNAP, Food Stamps
You get this if you have paid too much in taxes throughout the year.
Tax Refund
This is the second most common type of account and usually carries and interest rate.
Savings
If you are just paying the minimum on your credit cards and your balance is not going down, it is because of this very important part of your credit card.
interest rate
15 percent of your credit score, and why having gray hairs has its benefits.
Length of Credit History
Banks can nickle and dime its customers but this could be avoided completely if you keep it in the family.
ATM fees
State Income Tax
If you want to save money for your retirement and your job doesn't have retirement accounts, you should probably go open this type of account in your bank.
IRA
Deciding to pay off your debts by going small balances first and working your way to your largest is this type of debt payment strategy.
Snowball
Watch how much of your credit card you are using because if you go above this percentage you will start losing points on your score.
30 Percent
Separate your expenses like this so it is easier to both build an emergency fund and know what can go if income gets low
important and not important, needs and wants
NY has three location-based income taxes, this is the smallest.
Local Tax
This is how much your money in bank accounts is secured by due to FDIC.
250k per title.
This is how long a company can legally go after you for a debt you owe them.
7 years
Who late? Me late? Nah, you late. You can be this late and still be on time on your credit report.
30 Days
General guidance says to keep this many months in an emergency account, you can keep a bit less if your job is very stable, and will need more if it's not.
6 Months
Collected through taxes, this was instituted by FDR after the great depression and has helped millions of our retired family live a bit more comfortably in retirement, and will continue doing so, unless some congress and representatives get their way and eliminate it.
Social Security
Mutual funds, Stocks, Bonds, Options, Crytpocurrency, are generally referred to as this type of asset building type.
Investments
Auto Loans are generally considered bad debts because of this feature of cars.
Depreciating assets/ value.
It might fly past in the blink of an eye but like broken glass, bad credit history stays on your report for this long, plus 180 days.
7 Years
I call budgets by a this name because it speaks more to you have the decision-making power over money rather than money controlling you.
Spending Plan
Traditional IRAs, 401ks, 529 College Savings accounts all have this in common.
Grow Tax Deffered