Budgeting
Things you buy because they would be nice to have
What is a want?
When you get money from a bank, with the promise to pay it back
What is a loan?
The type of loan taken to buy a house
What is a mortgage?
A person who has more than 50% of their living expenses paid by another person.
What is a dependent?
What you own when you buy a small piece of a company as an investment
What is a stock?
The type of expense that doesn't change each month.
What is fixed?
The extra money pay the bank or credit card company for the privilege of borrowing money
What is interest?
What you sign and agree to when you rent an apartment
What is a lease or rental agreement?
The form given to you before you start a job, so your employer knows how much to take out of your paycheck for taxes
What is a W4?
The type of market when stock prices continue to rise
What is a bull market?
Something you pay for because it is necessary to live
What is a need?
What you call all the money you owe to others
What is debt?
The amount you get paid after taxes & deductions are taken out
What is net pay?
The form you get from your employer that tells you how much money you earned and how much was taken out in taxes the previous year
What is a W2?
The type of market when stock prices decline
What is a bear market?
An expense that can change each month.
What is variable?
The person who signs a loan with another, promising to pay it back if the first person doesn't
What is a co-signer?
A number often used by banks to determine if they'll borrow you money
What is a credit score?
The amount of money everyone can deduct from their earnings that reduces their taxable income
What is a Standard Deduction?
What you buy when you give a small loan to the government or company
What is a bond?
The 2 things you track on a budget
What are income & expenses?
Something of value you use to secure a loan
What is collateral?
Money withheld from your paycheck for taxes, health care, investments, etc.
What are deductions?
What IRS stands for
What is Internal Revenue Service?
When you put your money in different types of investments.
What is diversify?