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Money you earn from work.
What is income?
When you take money out of an account.
What is withdrawal?
Allows you quick access to your funds on an ongoing basis.
What is a checking account?
Used envelopes to help control spending.
What is the envelope method?
Card connected to you checking account.
What is a debit card?
A professional who helps with your finances.
Who is a financial coach/advisor?
Money you borrowed from someone else.
What is loan?
Has withdrawal limits, interest bearing and used to reach a specific financial goal.
What is a savings account?
Usually 30% of your earned income.
What is a want?
About 20% of your earned income.
What is savings?
About 50% of your earned income.
What is a need?
A plan that helps you buy what you need or save money.
What is a budget?
When you put money into an account.
What is deposit?
Being disciplined enough to not spend more than you have.
What is a "no" budget?
IRA/401(K)/Roth
What is an investment plan?