Taxes
Employers use this form to report employees’ annual earnings and taxes withheld for the year.
What is a w-2?
This budget gives a purpose to every dollar and cent you have.
What is zero-based budgeting?
The amount recommended for a mortgage down payment.
What is 20%?
Distribution of profits by a corporation to its shareholders.
What is a dividend?
Track your income and expenses.
What is the first step in creating a budget?
Your take home pay.
What is net pay?
This budgeting method helps you avoid any overdraft fees by placing cash in envelopes.
What is the envelope method?
The interest rates.
What is the most significant factor to consider in comparing loans?
A share of ownership in a corporation.
What is a stock?
Something that you own.
What is an asset?
Employers use which form to compute the amount of federal income tax to withhold
What is a w-4 form?
Deductions
What are items that are taken out of your net pay?
By age 67, you should have at least this amount of money set aside in savings and investments.
What is ten times your current annual salary?
A type of mutual fund or exchange-traded fund that seeks to track the returns of a market index.
What is an Index fund?
_____depicts a consumer's creditworthiness.
What is a credit score?
The date your taxes are due.
What is April 15th?
Expenses
For your emergency fund, you should set a goal to save this.
What is 6 months' worth of your monthly expenses?
A fund that holds a collection of stocks and bonds and is bought and sold like common stock.
What is an exchange-traded fund?
Assets-Liabilities.
What is how to calculate your net worth.
This form reports payments made to independent contractors.
What is a 1099 form?
This budget is not ideal for parents with low income.
What is 50/30/20?
Making sure you are setting aside money for your future before you set all your expenses.
What is pay yourself first?
The S&P 500 tracks this.
What is the 500 largest publicly traded companies in the US?
SMART. Specific, measurable, attainable, realistic, time bound.
What elements should a financial goal include?
As an employee, this percentage is taken out of your paycheck for FICA taxes.
What is 7.65%?
Your values and goals.
What you should consider first when starting a budget?
Investing in high risk investments.
What is speculating?
When the stock market is going down and people are pessimistic.
What is a bear market?
______is a federal program in the U.S. that provides retirement benefits and disability income to qualified people and their spouses, children, and survivors.
What is Social Security?