Budgeting
A spending plan
a budget
secret/key to good habit forming
start early
your financial report card
credit report
the guarantee of payment at a set amount for a financial loss, in exchange for regular premium payment
insurance
how you should think about major purchases
expenditure
when you spend money on something
there is never going to be a good time, so you might as well start _____ now
saving
increased debt and low self-esteem, poor physical and mental health, and running out of funds before future payment
consequences of living with bad credit or limited income
auto, health, property, life
the four types of insurance
losing one's property value due to normal wear and tear/accidental damage
depreciation
having money to cover emergencies, having saved up for more expensive wants
benefits of having a budget
allows a person to contribute to a savings plan from their pre-tax earnings
401k
money a bank charges you when you borrow a loan, money a bank pays when you save, and can be calculated by a percentage
interest
amount you pay before your coverage officially kicks in
deductible
free money with strings attached
scholarships
buying a Coke, concert tickets, new phone
examples of COMMON expenditures
interest you earn, not only on the money you save, but on all the interest you have built up
compound interest
deferred payment
credit
hard statistics that predict whether someone is worth the investment
risk factors
the plan you set up to reach your short and long term goals
financial plan
the list of your earnings per month from all sources
expected monthly income
(original $ amount + earned interest) x interest rate x length of time= amount earned
compound interest calculation
Mr Campbell's official opinion
Texas law requires these
auto and home/renter's insurance
the most important thing to remember about interviews
first impressions matter