Expenses
bills that are the same each month
What are fixed expenses?
account that offers higher interest rates
What is a Money Market Account?
individually managed account funded with pre-tax income that offers tax benefits
What is an Individual Retirement Account?
a structured plan for managing money
What is a budget?
shows money employees earn for working and how much is deducted
What is a pay stub?
costs that change from month to month
What are variable expenses?
a time deposit offered by banks with a fixed term
What is a Certificate of Deposit?
retirement fund for government employees
What is a pension?
all the money that you earn
What is income?
an employee's total earnings with deductions subtracted from it
What is net pay?
money for emergencies that might arise
What are unexpected expenses?
Education Savings Plan for K-12 and college expenses
529 Plan
account provided by a private sector (for profit) employer
What is a 401(k)?
buying an asset you expect to increase in value over time
What is investing?
retirement and disability income for those who've paid into the system through their working years
What is Social Security?
strategy where a certain amount is deducted towards savings as soon as you get your paycheck
What is Pay Yourself First?
account for college expenses you don't have to pay taxes on
What is a Coverdell ESA?
account provided by a public school or non profit employer
What is a 403(b)?
donating to support a cause that's important to you
What is charitable giivng?
health coverage for people age 65 or older or with certain disabilities
What is Medicare?
amount of money you're responsible for paying before insurance kicks in
What is a deductible?
savings account where money is used for medical, dental, and vision expenses only
What is a Health Savings Account?
retirement account funded with post-tax income
What is a Roth IRA?
the percentage of your savings the bank pays you for keeping your money with them
What is the interest rate?
amount you pay your insurance company to have a policy
What is a premium?