Saving Strategies
What is a budget?
What is is a plan that outlines how much money you expect to earn and how you intend to spend or save it over a specific period of time.?
What is check is a written, dated, and signed document that tells a bank to pay a specific amount of money from the writer’s account to the person or organization named on the check.
What is a prepaid card?
What is You load money onto it first, then spend from that balance?
What is a expense?
What is money you spend to buy something or pay for a service. It’s basically the cost of living, working, or doing business.
What is Gross pay?
What is the pay before deductions?
50/30/20 What is allocated to what?
What is Needs, Wants and Savings?
What is a E-Check?
What is is a digital version of a paper check. It works the same way, but everything is done online. Instead of writing a physical check, the payment is made electronically from one bank account to another.
What is a debit card? and what type of account is it attached to?
What is s a payment card that lets you spend money directly from your bank account.
Checking account
What is a variable expense?
What is an expense that changes?
What is Net pay?
What is the "take home" pay? Money brought home after taxes
What are the 3 types of budgets?
What is Traditional, Zero based balanced and 50/30/20?
What does "Pay to the order of" mean?
What is the person or place you are paying
What is a credit card?
What is Lets you borrow money that has to be paid back later?
What is a fixed expense?
What is an expense that stays the same?
What is a pay stub?
What is a document that provides a detailed breakdown of an employee’s wages and the deductions taken out of their pay for a specific pay period?
What does "Pay yourself first" mean?
What is a saving strategy to sat aside money for your savings, or yourself before paying your bills.
What is the difference between payee and payor?
What is the payor is the person/ business making the payment. Payee is the person/ business receiving the check?
What does CVV stand for?
What is Card Verification Value?
What is an irregular expense?
What is an expense that does not happen often?
Is there a such thing as a mandatory and volunteer deduction? Give an example
What does SMART stand for?
What is Specific, Measurable, Achievable, Relevant and Time-bound?
What is a routing number and how many digits does it have?
What is is a 9-digit code used in the U.S. to identify the specific bank or financial institution where an account is held?
How many digits does cards have?
What is 16 digits?
What is a trade off?
What is giving something for the same value of another?
Name one mandatory deduction taken out of your pay
What is
Federal & State Taxes – Income tax withheld by the government.
FICA Taxes – Social Security and Medicare .
Local Taxes – City or county taxes, if applicable.