Banking
One of the factors people use when choosing a bank.
What is location, convenience, rates, or fees?
This is something every spending plan should have.
What are goals?
Examples of this type of expense include mortgage/rent, insurance, real estate taxes, and vehicle registration.
What are fixed expenses?
This is what credit card companies charge for use their money.
What are finance charges?
When saving money but would still like access in case of an emergency, this type of account typically has better yielding interest rates than a standard savings account.
What is a high yield savings account, What is a CD?
A request for your bank to pay another party with funds from your account.
What is a check? What is a wire transfer?
This may include your paycheck, child support, alimony, investments, and/or other sources of this.
What is your income?
The easiest type of expenses to adjust.
What Are Discretionary Expenses? What are non essential expenses?
The best way to reduce your credit card debt.
What is Make More Than the Minimum Payments? What is Consolidate with a Personal Loan? What is Stop Adding New Debt? What is Choose a Payoff Strategy?
This is the best way to protect your credit rating.
What is Pay Your Bills On Time?
This should be performed monthly to ensure proper record keeping and help protect against identity theft.
What is reviewing your credit report or reconciling your bank/financial statements?
The term used to describe the things you spend your money on.
What are expenses?
Using these reduce your grocery bill, which is one way to help lower your monthly flexible/variable expenses.
What are coupons?
When possible, it is better to buy a home rather then rent because purchasing real estate is considered an investment. As you pay off your mortgage you build this.
What is Equity?
When paying of debt owed to more than one creditor, the best plan is to begin by paying extra money each month to the creditor with this.
What is the Highest Interest Rate? What is the Avalanche Method?
The limit of money deposited in a bank that is insured by the FDIC per individual.
What is $250,000
One of two types of expenses.
What are fixed or flexible (variable) expenses?
Examples of this type of expense include groceries, wireless telephone, electric, heating oil/gas, and gasoline.
What flexible/variable expenses?
Preferably, the only types of purchases that should be financed are those that either appreciate in value or are essential and unaffordable upfront, such as
What are home, education, or auto Loans?
The best time to begin saving for retirement.
What is As Soon As Possible?
This happens when you write checks for more money than is in your account.
What is an Overdraft?
Popularized by Dave Ramsey. Every dollar is assigned a specific purpose, expenses, savings, or debt repayment. So income minus expenses equals zero.
What is a Zero Based Budget?
One of the ways (relating to time) that expenses occur.
What is monthly, quarterly, annually, periodically, etc..?
Calculate this by taking the total amount of money and assets you have and subtracting the total amount of money you owe.
What is your Net Worth?
This represents the amount of money left over after all bills have been paid.
What is disposable income or discretionary income?