Budgeting
the process of creating a plan to spend your money.
what is budgeting?
your take-home pay would be?
what is net pay?
You receive the same amount of interest on your investment overtime
what is simple interest?
the process of buying assets that increase in value over time and provide returns in the form of income payments or capital gains.
what is investing?
A card issued by the bank to have direct access to your checking account
debt card
money that is owed or due
what are debts ?
Amount withheld by your employer to pay
your Medicare tax
what is FICA Medicare
Before budgeting your money for bills put money in your savings first.
What does the term 'pay yourself mean?'
You will not make headway on your financial independence
How can too little risk affect your investing experience?
How often is a bank statement sent out to the account owner?
monthly
saving for retirement
An Example of a long term goal would be:
1. a annual vacation
2. saving for retirement
3. buying a used car
4.completing college.
Name one kind of information found on a paycheck stub.
What is gross pay? net pay? pay period? pay date? deductions? YTD deductions? YTD gross pay? YTD net pay? hourly pay rate?
When should you start saving for retirement?
As soon as you get a job you should start setting money aside or investing
Dividends and Trade Stocks
What are the two ways that investors can make money from stocks?
Direct deposit, check, third party app, going to the bank are types..
What are 3 ways to deposit money into your checking account?
Housing, Utilities, Car, Gas, Groceries, Internet, Cell Phones
what are the 5 major things to consider in your budget.
Name one kind of information found on a W-2 form.
What is state taxes withheld for the year? Federal taxes withheld for the year? Wages, tips, and salaries earned for the year? Social security number? Name of employer? Employee name and address?
50 percent goes to bills 30 percent goes to wants 20 percent goes to savings
what is the 50/30/20 rule of saving?
What percent of 18-29 year olds are investing in the stock market?
about 41%
The largest source of fees associated with checking accounts (what fee makes bank the most money?)
Overdraft Fee
it is recommended that you spend this percentage on your needs wants and savings.
what is the 50/30/20 budget rule
On a paycheck stub, YTD means.
What is Year-to-date
a three-digit number, typically between 300 and 850, designed to represent your credit risk, or the likelihood you will pay your bills on time.
what i a credit score?
an investment account used to trade assets such as stocks, bonds, mutual funds and ETFs. They also give access to the stock market.
What is a Brokerage Account?
What is one way to protect your checking account from getting stolen or hacked?
answers will vary, should have something about not saving card for online purchase.