Miscellanous
is prediction of your credit behavoir
what is a credit score?
True or False: A budget is one of the most important things you can do to manage your finances
True
it should prioritize your needs first and wants second
what is budgeting
is the possession of skills knowledge and behaviors that allow and individual to manage money
what is financial literacy
An economy or reduction in money, time, or another resource
What is savings
A legal document that specifies how an individual's assets will be distributed after their death.
What is a will?
True or false: You should only focus and or make one goal at a time
False
Money that the government takes out of your paycheck
What is taxes
Should you store all your money in a single bank account true or false ?
what is false
Three C's
what is capacity, character, and collateral
A set of skills and knowledge that allows you to make informed decisions about managing your money
What is financial Literacy
A plan that outlines your income and expenses, helping you manage your money effectively
What is a Budget
The amount of money a person earns before taxes & other deductions are taken out
What is a gross income?
3 keys financial literacy
What is Budgeting, Saving, and Managing debt
what percentage should you put in to savings account.
20%
when is your IRA taxed
generally when you get it
Budgeting Rule
What is the 50, 30, 20 rule
money people earn from selling a product or working
what is income
money you borrow and pay back later with interest
what is credit
one bank manage all your finacial accounts
(true or false)
true
allows you to combine multiple existing debts into a new debts with a single payment
What is consolidating your debts
How long does it usally take to resolve a debt
what is 24 months
5 sources of income
earned income,rental income,capital income, dividends,interest
a Unhited States federal wage and tax statement that an employer must give to each employee
What is a W-2
am employer-sponsered saving account for retirerment
what is 401k