Budget
a written plan for giving, saving, and spending
What is a Budget?
How much money do you need to save for an emergency fund?
$500
the additional cost a lender charges for borrowing their money
What is Interest?
the initial amount of money invested or borrowed
What two schools did Ms.Taylor graduate college from?
Trine and Butler University
expense that remains the same from month to month
What is a fixed expense?
This is the 2nd foundation
Get out of debt and stay out of debt
the percentage of principal charged by the lender for use of its money
What is a interest rate?
a savings account set up specifically to be used to cover financial emergencies
What is an emergency fund?
How much did NAGB beat BNL by in the sectional game?
3
a cash-flow plan that assigns an expense to every dollar of your income; the goal is for the total income minus the total expenses to equal zero
What is a zero-based budget?
How should you pay for a car?
With cash
the amount of interest charged on a debt but not yet collected; interest accumulates from the date a loan is issued
What is accrued interest?
a purchase that requires a significant amount of money
What is a large purchase?
6'1
what a person earns after payroll taxes and other deductions are taken out; often referred to as take-home pay
What is net income
This is the fourth foundation
Pay cash for college
the average rate of growth for an investment over time; often expressed as an annual figure
What is Compound Growth?
the measure of an investment’s profit or loss, usually expressed as a percentage of the initial investment
What is a rate of return?
How many school days until spring break?
13
the amount you earn before taxes and other payroll deductions
What is gross income?
What is the five foundations in order?
Save $500 for E-fund, get out and stay out of debt, pay cash for car, pay cash for college, and build wealth and give wealth
the persistent rise in the cost of goods and services over time
What is inflation?
concept that an amount of money is worth more today than in the future due to earning potential
What is time value of money?
When was New Albany High school found?
1853