Want Vs Need
This is something essential for survival, like food, shelter, or clothing
Need
Refers to the portion of income that is not spent and is set aside for future use
Savings
The NBA player that Mr. Mac said saved all his money from his games
Shaq
The total amount of money earned before any deductions, such as taxes or benefits
Gross Income
This type of stock can be more dangerous to invest in, as many equities lose value and prices become volatile
Bearish
This is a non-essential item or service that enhances comfort or enjoyment, such as a smartphone or streaming subscription
Want
A financial plan that outlines expected income and expenses over a specific period
Budget
The NBA player that Mr. Mac said lost all of his money that he earned in the NBA
Allen Iverson
The costs incurred in the process of living, including needs like rent and wants like entertainment
Expenses
This type of stock is on the rise and has been slowly increasing in price overtime
Bullish
These two categories help people manage money and make informed spending decisions, distinguishing between necessities and luxuries
Needs and Wants
A specific type of borrowing that involves a formal agreement to pay back the borrowed amount over time
Loan
The percentage of NBA players that go broke after retiring
60 percent
I make 2000 dollars, but I only take home 1600 after taxes (super lame)
Net Income
Cooking at home is a viable alternative to this want
Fast food/Restaurant
Taking money from another party with the intention of repaying it, usually with interest
Borrowing
The percentage of NFL players that go broke after retirement
78 percent
The amount subtracted from your gross income, such as taxes and retirement contributions
Deduction's
This technology-based item can be considered a need or a want depending on the individual's job
Phone
The current student minimum wage in Ontario
16.20$
On July 13, 2015, this New York Rapper filed for bankruptcy
50 Cent
The standard rule of thumb is to save ___% from every paycheck
20 percent