Budgeting
How do you start budgeting ?
Calculate your net income, track your spending, and make a list with your needs and wants.
What are fees ?
Fees are when a customer fails to maintain a set minimum balance for their checking account.
What is a diversification ?
The process of starting to include more different types or things.
Do you know how much you save and spend each year ?
No
An account you use to save your money for emergencies.
Which of the following is an example of a fixed expense ? Food and groceries, Mortgage or rent payments, Charitable contributions, Gas for your car
Mortgage or rent payments
Do checking accounts earn interest ?
No
How much money do you start investing ?
You should start with little amounts.
What are the three C's in financial literacy ?
Character, Capacity, and Capital
Do savings account require a minimum balance ?
Yes
What is zero budgeting ?
The practice of budgeting every dollar of income received.
What is an return deposit ?
A deposit that has been returned
What is the difference between saving and investing ?
When you're investing you're using money, When saving you don't use money.
How do financial goals vary across a person's lifetime ?
By setting budgets
Do savings accounts have interest rates ?
Yes
What are the three P's of budgeting ?
Paycheck, Prioritize, and plan
What are three types of checking accounts ?
Student checking accounts, Simple checking accounts, Business checking accounts
An account that allows you to buy and sell a varity of investments
What is a working capital ?
The difference between a company's current assets and current liabilities.
How many times can you withdrawal from a savings account ?
Six times free withdrawals per month
What is the most likely reason for a budget to fail ?
Failing to create an emergency fund to account for unexpected expenses.
What is the minimum balance in a checking account ?
There is no minimum
What is a stock ?
A stock represents a share in a company
What does EBITDA represent ?
Earnings before interest, taxes, depreciation, and amortization
Is there an maximum amount you can keep in a savings account ?
No there isn't except of minors accounts