Budget
1. What does it mean to create a personal budget?
to have a budget to your income
Do I need an accountant to do my taxes?
no
: A loan to a government or business for a set amount of time with fixed interest
What is a bond?
My spouse has a lot of debt. Am I responsible for it?
The answer to this question lies in whether the employee lives in a community property state or not and whether the account is a joint account.
Is whole life insurance important?
yes bec I want my family to have my money
how to have a smart budget?
by basing it on the income
who can I claim on my taxes?
employees understand the IRS definition of dependent.
what should you invest your money in?
something that will make you more money
What is the routing number for my checking/savings account?
Checking and savings accounts have two main numbers.One is the account number, and this number is unique to you. The other is the routing number which tells which bank the account belongs to.
should I pay insurance?
Yes
should you buy something that you can not afford?
no
do you have to pay taxes on everything
yes
should I invest in Tesla
NOOO
do I need to pay debt that is not mine?
no
how many types of insurance are there
the ones including health and financial
Should I transfer money using a wire transfer or an ACH transfer?
Both a write transfer and ACH transfer can take money from one account and move it to another.The difference is how much time it takes and how much it cos
What is a credit card, and how does it work?
Although this may be hard to believe, many employees, especially young employees, don’t understand how a credit card works, especially in terms of interest.
What is a credit score, and how is it calculated?
A credit score helps lenders determine how creditworthy someone is and whether they should lend money.
Can a poor credit score affect my employment?
It depends on where an employee lives and what job they want.
What is considered a good credit score?
How strong a credit score needs to be depends on what the employee needs. However, higher scores are always better.
How much do I need to save for retirement?
Americans are not prepared for retirement
I need to pick investments for my 401k. How do I decide what is best?
Nearly two-thirds of Americans9 do not understand their 401(k) or how it works.This includes how to choose the best investments.
How much money do I need to start investing?
Most employees can begin investing with as little as $100.
What are capital gains, and do they matter to me?
One-third of those who do not invest don’t invest because they don’t understand investing11. This includes things like capital gains taxes and how they might affect them.
How do interest rate increases affect my bond payments?
Bonds are fixed-income investments.