Money Habitudes
This is the definition of money habitudes.
What is our patterns of behaving with money?
Definition of a marginal tax rate.
What is the tax rate you pay on an additional dollar of income?
Your SMART Goal (opened ended question share your smart goal)
What is ...
The rule of 72.
What is the Rule of 72 that helps you know how long it will take for your money to double?
The definition of debt.
What is something that is owed (money/goods)?
How do money habitudes develop?
What is personality, family, personal experiences, religion, society?
The three forms of Taxation
What is Flat Tax, Regressive Tax, and Progressive Tax?
One way to help you track your expenses
What is spending tracker app?
The 3 “D”s of Investing.
What is discipline, diversification, and dollar-cost-averaging?
The Debt to Ratio formula.
What is monthly debt/gross monthly?
The 6 types of money habitudes.
What is Security, Planning, Status, Giving, Spontaneous, and Carefree?
What do Taxes fund?
What is build infrastructure, social welfare, public services, economic activity, national defense and security, and education?
SMART savings goals should be
What is aligned with your values
The proprietary fund is
What is an in-house fund that is usually accompanied by high fees?
Avalanche approach to debt reduction is ...
What is the Highest interest rate first?
This is the danger with any of the Money Habitudes if not using Bibilical principles.
What is making money an idol?
A housing allowance is
What is the component to pay called workers who are not provided a parsonage and therefore own or rent their own home?
SMART stands for
What is Specific, Measurable, Attainable, Realisitc, Timely?
The difference between a Traditional IRA and Roth IRA.
What is a Roth IRA uses money that is contributed after tax and grows tax-free and a Traditional IRA contributes pre-tax money and grows tax-deferred.
Snowball approach to debt reduction is ...
What is the Lowest balance first?
This money habitude has an advantage of helping others.
What is Giving?
What is SECA taxes paid by self-employed individuals for Social Security and Medicare and FICA taxes paid by both the employer and the employee for Social Security and Medicare?
6 tips for spending money wisely
What is 1)track your finances, 2) compare long-term benefits and drawbacks, 3) only use credit card if you can pay it off each month, 4) stop trying to impress other people, 5) determine what habits drain your budget, and 6) learn to value savings over products?
The benefits of having mutual funds.
What is professionally managed, the risk is reduced, and diversification?
What percent is optimal?
What is 20% or less?