Bank Statements
Money in a paycheck before taxes are taken out
What is Gross Pay?
What is a Credit Union?
A basic account that earns a very low interest rate
What is a Traditional Savings Account
Things necessary for survival.
What are Needs?
The basic form that helps you "settle up" with the IRS. DUE APRIL 15!
What is a 1040?
after failure to pay- a court ordered amount is withdrawn from your paycheck
What are garnished wages?
What is FDIC?
Generally can't walk into one of these banks. And also, great rates!
What are High Yield or Online Savings Accounts?
What are savings goals?
Comes from your employer- shows income made and taxes paid.
Another word for "take-home pay".
What is Net Pay?
Federal insurance that protects Credit Unions
What is NCUA?
A readily available source of income in case disaster strikes. Typically 3-6 months worth of salary
What is an Emergency Fund?
Things that are not necessary for survival
What are Wants?
What is a W-4?
Taxes, health insurance, 401K contributions or garnished wages that are taken out of your paycheck
What are deductions
The amount your money is insured at either a bank or a credit union.
What is 250K?
What is a Money Market account?
Type of budget when your expenses + savings = income
What is a zero-based budget?
Verifies your I.D. so you can be hired.
6.2% goes to Social Security and 1.45% goes to Medicare
What is FICA Tax?
The owners of banks, which are for-profit businesses.
What are investors?
What is a CD (certificate of deposit)?
50% to needs, 30% to wants, 20% to savings.
What is a 50-30-20 budget?
The form for "other income" you may have recieved.
What is a 1099?