Banking
What is a checking account?
A checking account is a bank account that allows for deposits and withdrawals, typically used for daily transactions.
What is rent?
Rent is the payment made by a tenant to a landlord for the use of property or land.
What is a resume?
A resume is a document that summarizes an individual's work experience, education, skills, and accomplishments.
What is income tax?
Income tax is a tax imposed on individuals or entities based on their income.
What is a loan?
A loan is borrowed money that must be repaid with interest.
What is a savings account?
A savings account is a deposit account that provides a modest interest rate, allowing individuals to save money while earning interest.
What are common food expenses?
Common food expenses include groceries, dining out, and snacks.
What is a cover letter?
A cover letter is a document sent with a resume to provide additional information on skills and experience.
What is sales tax?
Sales tax is a consumption tax imposed on the sale of goods and services.
What is a grant?
A grant is a form of financial aid that does not need to be repaid, often awarded based on need or merit.
What does "unbanked" mean?
"Unbanked" refers to individuals who do not have access to traditional banking services and do not hold a bank account.
What is a budget?
A budget is a plan for managing income and expenses over a specified period.
What is a W4 form?
A W4 form is used by employers to withhold the correct federal income tax from an employee's paycheck.
What is property tax?
Property tax is a tax based on the value of owned property, usually levied by local governments.
What is a scholarship?
A scholarship is financial aid awarded to a student based on academic or other achievements.
What are the benefits of online banking?
Benefits include convenience, easy access to accounts, lower fees, and online bill payment.
What are challenges to saving money?
Challenges include unexpected expenses, impulse purchases, and insufficient income.
What is a W2 form?
A W2 form is a tax document that employers send to employees and the IRS to report annual wages and taxes withheld.
What are state taxes?
State taxes are taxes imposed by individual states, which can include income, sales, and property taxes.
What is the difference between accredited and non-accredited institutions?
Accredited institutions meet certain standards set by a recognized agency, while non-accredited institutions do not.
What are bank fees and how can you avoid them?
Bank fees are charges for various services; to avoid them, maintain a minimum balance or choose a no-fee bank account.
How can you build a budget?
To build a budget, list all income sources, track expenses, categorize spending, and adjust as needed
What should you prepare for an interview?
Prepare by researching the company, practicing common interview questions, and dressing appropriately.
What are federal taxes?
Federal taxes are taxes imposed by the federal government on income, estates, gifts, and certain transactions.
What types of financial aid are available?
Types include federal and state grants, scholarships, loans, and work-study programs.