Bank Statements
Money in a paycheck before taxes are taken out
What is Gross Pay?
What is a Credit Union?
A basic account that earns a very low interest rate
What is a Traditional Savings Account
Things necessary for survival.
What are Needs?
The basic form that helps you "settle up" with the IRS. DUE APRIL 15!
What is a 1040?
Taxes, health insurance, or garnished wages that are taken out of your paycheck.
What are deductions?
What is FDIC?
What are CDs?
What are savings goals?
Comes from your employer- shows income made and taxes paid.
Another word for "take-home pay".
What is Net Pay?
Federal insurance that protects Credit Unions
What is NCUA?
A readily available source of income in case disaster strikes. Typically 3-6 months worth of salary
What is an Emergency Fund?
Things that are not necessary for survival
What are Wants?
What is a W-4?
______ your wages (to pay off a debt).
What is Garnishing?
The amount your money is insured at either a bank or a credit union.
What is 250K?
What is a Money Market account?
When your expenses + savings = income
What is a zero-based budget?
Verifies your I.D. so you can be hired.
6.2% goes to Social Security and 1.45% goes to Medicare
What is FICA Tax?
The owners of banks, which are for-profit businesses.
What are investors?
Generally can't walk into one of these banks. And also, great rates!
What is an online savings account? (or HYSA)
50% to needs, 30% to wants, 20% to savings.
What is a 50-30-20 budget?
The form for "other income" you may have recieved.
What is a 1099?