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This budgeting strategy involves putting every dollar of your net pay into a budget category each month
What is Zero-Based Budget?
This is the amount of money you make BEFORE taxes and other expenses are removed from your salary.
What is Gross Pay?
This is the amount of money you make AFTER taxes and other expenses are taken out of your salary. (Your take-home pay).
What is Net Pay?
Sticking to this will allow you identify your spending habits and work towards your financial goals.
What is a budget?
An expense that changes from month to month.
What is a variable or varying expense?
These type of expenses are a set amount and do not change from month to month.
What is a Fixed Expense?
This type of person rates and reviews products that their followers are likely to purchase
Who is a Social Media Influencer?
This budgeting strategy is performed by putting cash for different spending categories into separate envelopes and only spending what's in each envelope
What is the Envelope Budgeting Strategy?
This three word action is described as setting aside a fraction of your paycheck into a savings account before you start spending each month.
What is Pay Yourself First?
These are left by customers of a product or service to inform other potential buyers of their experiences.
What is a (customer) review?
Social Media Influencers tend to have a greater influence on their audiences on buying this type of product.
What is Clothing and accessories?
This process is when someone has their personal information stolen from them and is used by the thief to spend money or open accounts in their name.
What is Identity Theft?
This process that involves looking at multiple different stores offering the same product to purchase will help someone find the product that best fits within their budget.
What is Comparison Shopping?
During this process, your credit information is blocked to help prevent someone from opening accounts in your name.
What is freezing/locking your Credit?
This process allows you to accumulate wealth for retirement at a faster rate, but often involves high risk stakes.
What is Investing?
This type of interest allows you to earn interest not only on the amount you have saved, but also on the interest you've already earned
What is Compound Interest?