Budgeting
A projection of income and a plan to use that income to pay estimated expenses and debt payments, and to apply remaining income to savings and investments.
What is a personal budget?
Interest that accumulates on the principal and the accrued interest.
What is compound interest?
Targets to achieve in order to meet your future financial needs and wants.
What are Financial Goals?
Money received on a daily basis.
What is income?
What are Wants?
An exchange of goods, services, or financial instruments between a buyer and seller.
What is a Transaction?
The intentional act of not spending income, and setting it aside to use in the future.
What is Saving?
A Goal That Will Take More Than A Year To Accomplish.
What is a long-term Goal?
Legally endorsed coins and paper currency that can be used to purchase goods and services, and to pay debts.
What is Cash?
A sum of money placed or kept in a bank account, usually to gain interest.
What is a Deposit?
A tangible or intangible resource that has economic value, owned by a person or organization.
What is an Asset?
Purchasing an asset with the hope that it will produce income or a profit.
What is Investing?
Housing, Taxes, Insurance and Debt Repayment Are All Examples Of This
What are Expenses?
Money that is charged for loaning money; the creditor, who loans the money, charges interest to the debtor, who borrows the money.
What is Intrest?
Money that is owed or due.
What is Debt?
A periodic, usually monthly, account of all deposits, withdrawals, transactions, and fees.
What is a Bank Statement?
Money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt.
What is Interest?
Financial goals that are set for one year or less.
What are short-term goals?
A fixed amount of money an employer pays to an employee, over a specific period of time, for performing work.
What is Salary?
The removal of money from a bank account.
What is a withdrawal?
Something you must have to survive.
What is a need?
A deposit account in a bank or other financial institution that pays interest on the balance of the account.
What is a Savings Account?
Saving Your Money In A Bank Better Than Saving It In A Mattress Because...
What is, 1. Your money is safe. 2. Your money earns interest 3. Your money is insured.
Work done mainly to earn money.
What is a Job?
FDIC stands for ____?
What is Federal Deposit of Insurance Corporation?