Income
Gross in come means this
What is money earned before taxes
A need is
What is something necessary to live
A bank account is used for
What is storing and managing money
A credit card gives you this
What is borrowed money?
An emergency fund is
This is what you call net pay
What is money you take home after taxes?
The 50/30/20 rule stand for
What is Needs/Wants/Savings
The difference between a checking and savings is
What is checking equals spending and savings equals saving
When you borrow money you must
What is pay it back with interest?
The main reason you should save money is to do this
What is to prepare for emergiencies
Taxes come out of your paycheck for this reason
What is to pay for government services?
When something is a fixed expense it means it is
What is the same every month?
A debit card allows you to
What is use your own money from your account?
Interest is
What is the extra money you pay for borrowing money?
Before buying something expensive you should do this
What is plan and budget and/pr save up for it?
It is important to understand your paycheck before accepting a job for this reason
What is so you know what you are actually earning and losing to taxes?
If your expenses are more than your income you will
What is go into debt?
When you over spend out of your bank account this happens
What is you will incur overdraft fees?
The minimum payment on a loan is
What is the lowest amount you have to pay on borrowed money?
An example of an unexpected expense is
What is a car repair, medical bill, home repair, etc.
A W-4 is used for this purpose
What is to tell your employer how much tax to withhold?
To fix a broken budget you need to
What is cut spending or increase income
The general rule is to keep your money in a bank rather than at home for this reason
What is it is safer and easier to manage?
*Disclaimer
If you only pay the minimum payment over the term of a loan you do this
What is pay WAY more over time?
You have $200 left and your car breaks down. The repairs are more than you have. To handle this you should do this.
What is adjust your budget, prioritize your needs, and/or use your savings?