Banking
Checking is for frequent use and savings is for long term storage to earn interest.
Checking is for frequent use and savings is for long term storage to earn interestWhat is the difference between a checking and savings account?
50% of your budget goes to needs, 30% goes to wants, and 20% goes to savings.
What is the 50/30/20?
The amount your charged every month in your insurance policy.
What is a premium?
Buying and selling pieces of a business based on how much they think those pieces will be worth
What is the stock market?
A paycheck before taxes.
What is gross income?
Banking fees
How do banks make money?
Everything you earn goes to a specific expense, leaving you with a balance of $0.
What is a zero-based budget?
Your plan is chosen by your employer; you can opt for individual or family care
What are coverage options?
Person that owns a share of a company.
What is a shareholder?
Tax taken from your paycheck.
What is withholding's?
Short-term, Medium-term, and Long-term
What are the three saving goals?
Frustrating expense when trying to maintain budget because they are unpredictable.
What is a whammy?
The max amount your insurance policy will reimburse you for a covered loss
What are limits?
Purchasing stocks.
What is an investor?
Someone you financially support who can claimed on taxes to reduce taxable income.
what are dependents?
Banks are for customers and credit unions are for members.
What is one difference between banks and credit unions?
Standard expenses that happen every month, on a certain day, and for a certain amount.
What is a fixed expense?
Amount of money agreed to pay to help repair or replace your vehicle if you have a claim covered by your policy.
What is a deductable?
A loan from a company or government that earns interest over time
What is a bond?
An amount that can be subtracted from a person’s taxable income
What are deductions?