budgeting
A cost that stays the same each month, like rent.
What is fixed expense?
Money earned or paid for borrowing money.
What is interest?
Tax paid on money earned from work.
What is income tax?
Borrowing money to pay back later.
What is credit?
Money earned from working.
What is income?
A cost that can change, like entertainment or food.
What is a variable expense?
A bank account used for everyday spending.
What is a checking account?
Extra money added to the price of purchases.
What is sales tax?
A number that shows how responsible you are with credit.
What is a credit score?
The lowest amount employers can legally pay workers.
What is minimum wage?
An unexpected expense like a car repair or medical bill.
What is a financial emergency?
A bank account used to save money and earn interest.
What is a savings account?
Money returned when you paid more taxes than needed.
What is a tax refund?
Money borrowed that must be paid back with interest.
What is a loan?
Total money earned before taxes.
What is gross pay?
An important money goal or expense that comes first.
What is a financial priority?
Money electronically deposited into your bank account.
What is direct deposit?
.
An expense that lowers taxable income.
What is a tax deduction?
The maximum amount you can borrow on a credit card.
What is a credit limit?
Money left after taxes and deductions.
What is net pay?
A plan that divides income into needs, wants, and savings.
What is the 50/30/20 budgeting rule?
A number used to identify a bank.
What is a routing number?
A person supported financially by someone else.
What is a dependent on taxes?
Money owed to another person or company.
What is debt?
Money paid by an employer for work completed.
What is a paycheck?