Debit vs. Credit
Your own money in your OWN account.
What is debit?
Money we GET from working each month
What is net monthly income
An economy based of peoples customs.
What is a traditional economy?
Paying yourself before budgeting
What is saving?
An amount of money that someone lends.
What is a loan?
Money you get from the bank usually a loan.
What is credit?
Money we get BEOFRE tax payments.
What is gross monthly income?
A central government that controls every decisions made.
What is a command economy?
A plan for managing your money.
What is Budgeting
Deductions you have to do monthly.
What is taxes?
A number depending on how likely you are to pay back what you own your lender.
What is a credit score?
An economy based on private businesses , supply and demand.
What is a market economy?
Bills that people HAVE to pay
What is Fixed expenses?
When you put money into something like a business hoping that you will profit later.
What is investing?
An economy that includes different elements from other economies such as Freedom and government control.
What is a Mixed economy?
Money you put away for a goal in under a year
What is a short term goal?
A type of tax you have to pay every month based on the lower cost of medical visits.
What is healthcare tax?
An economy that focuses more on there people then money and profits.
What is a socialist economy?
Money you put away for goal over a year.
What is a long term goal.
Owning a company.
What are stocks?