Rent, groceries, and utility bills are these types of expenses.
Hint: wants or needs?
What are needs?
This is like a debit card, except you don't actually have the money and must pay the balance to avoid interest and fees.
What is a credit card?
This type of account is where you can store/save your extra money.
What is a savings account?
What is net pay?
Games, music, and junk food are examples of these types of expenses.
Hint: wants or needs?
What are wants?
You take out one of these when you borrow money from a financial institution and agree to pay it back, usually with interest, over a certain length of time.
Some examples of these are auto, student, and home.
What are loans?
You can clip these to save money on items at the store. They may be digital or printed.
What are coupons?
This is the amount you are paid before taxes and deductions are subtracted from your paycheck.
What is gross pay?
These type of expenses usually cost the same amount of money every month, such as a Netflix subscription or your rent.
What are fixed expenses?
What is debt?
This is something you create by estimating your income and expenses. Sticking to it can help you make responsible choices with your money.
What is a budget?
What is a pay stub?
These type of expenses usually vary in cost each month, such as how much you spend on groceries or entertainment.
What are variable expenses?
This is not a fee, but it is the extra money you must pay back when you borrow money from a financial institution, or do not pay your credit card statement in full.
What is interest?
A fund where you set aside money for unexpected expenses or unexpected loss of income.
What is an emergency fund?
You fill out this form whenever you start a new job. It tells your employer how much federal income tax to withhold from each of your paychecks.
What is a W-4?
This type of purchase is one you don't plan for, but buy because you really want to in the moment.
What is an impulse purchase?
This is a number (usually called a "score") that tells lenders about your creditworthiness.
It is impacted by factors like making payments on time and how often you apply for loans/credit cards.
What is a credit score?
It is recommended your emergency fund cover your expenses for this amount of time.
What is between 3 and 6 months?
What is a W-2?