Personal Finance
A bank account for everyday transactions, offering easy access to your money for purchases, bills, and cash withdrawals
What is a checking account?
The money that you have borrowed that you have not paid back yet.
What is debt?
A tax on retail sales of goods and services.
What is sales tax?
Share of ownership in a company
What is stock?
A plan for income and expenses during a set period.
What is a budget?
The ability of a person or a business to borrow money from a lender with the intent, or promise, to pay the money back
What is credit?
Tax that is imposed on immovable property
What is property tax?
Buying a stock and selling it within days, weeks, or a few months.
What are short-term stocks?
You break up your budget into percentages. About 50% of your income should be spent on needs. Save 30% for wants and 20% should go towards your savings.
What is the 50 - 30 - 20 method?
A number from 300 to 850
What is a credit score?
April 15th
When is Tax Day?
The amount of a commodity, product, or service available and the desire of buyers for it
What is supply and demand?
Look carefully at prices, Compare prices from different store, Consider buying things used instead of new
What is smart shopping?
The least amount of money to be repaid on a loan or credit card in order to keep the account in good standing.
What is the minimum payment?
W-2 employment, Self-employment, Lottery or gambling winnings, Investments and retirement income
What is the our types of personal income?
Current Earnings, Annual Earnings, New Product, Supply, Leader, Investors, Market
What is CANSLIM?
A form of identification with your picture, A second form of identification, A Social Security number or ITIN, Money to open the account
What you need to open a bank account?
Student Loans, Mortgage/Home Loan, Business Loans
What is forms of good credit?
Money used for the social security and medicare funds, from which employees receive checks after retirement from work.
What is FICA?
A centralized location where investors can buy and sell equities like stocks.
What is a stock exchange?