Savings
Aunt Tina and her family don't have any money saved, and their paychecks are just barely covering monthly expenses, so they use every dollar every month
What is living paycheck to paycheck?
Working for more than 30 hours
What is full time
The average cost of basic goods, services, and housing available in a given city.
What is the cost of living?
Money that instantly is deducted from your account
What is debit?
money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt.
What is interest?
Buying new sneakers the day they come out, because you know others in your class will have them, too
What is "Keeping up with the Joneses" ?
Volunteer experience, sports team participation, computer skills
What are appropriate items to include on your resume during high school?
50% of your income should go toward living expenses and essentials, 20% should go toward financial goals, and 30% should be used for flexible spending
What is the 50/20/30 Rule?
Up to $250000 is ensured by
What is the FDIC?
Harligen, Texas
What is the cheapest city in America?
Money Market Account, Jumbo Certificate, Traditional Savings Account
What are 3 different types of saving accounts?
3. A 30-second introduction you prepare in order to introduce yourself to potential employers or professional network connections is called ________________.
What is an elevator pitch
A monthly payment to get liability insurance and to insure your belongings in your apartment in case of theft, fire, etc.
What is renter's insurance?
$35 fee per item whether caused by a bounced check, ATM withdrawal, debit card transaction, or other electronic means.
What is an overdraft fee?
Macbook stolen at the Laundry Mat
What is how Mr. Richardson's brothers computer got stolen?
- Keeps you out of debt by giving you money to cover unexpected expenses
- Provides peace of mind
- Covers your expenses if you lose your job
What are good reasons to have an emergency fund?
April 15th
What is the deadline to file your tax return?
You overdraw your checking account on a consistent basis (with a $35 cost per overdraft).
What is a budget deficit?
Businesses that provide customers with an easy way to turn their paycheck and other checks into cash without having to rely on a bank account
What are check cashing places?
the home has lost value over time
What is depreciation
Money accrues more interest if saved or invested earlier (longer time for compounding interest).
You never know when an emergency will occur, and you may need your savings when it does.
You will have to invest more money if you start later in order to achieve the same retirement goal. As you age, the “catch up” savings for retirement will be huge to compensate for not saving when you were younger.
What are three reasons why it is important to start saving or investing for retirement as early as possible.
the amount of money you take home after taxes and other deductions are paid
What is net pay?
- They May Miss Payments
- They Help Make a Mess
- Built-in Enemies
- Less Privacy
What are the downsides of having a roommate?
- Deposit a check at an ATM or through a mobile app
- Deposit cash into your account at an ATM.
- Your friend pays you using a person-to-person payment
- Your mom transfers money from her account into your account
What are ways to deposit money into your checking account?
April 28th
When is Mr. Richardson's Birthday?