Budgeting
This ensures that every dollar you earn is assigned a specific purpose.
What is a zero-based budget?
The amount paid to the insurance company for coverage.
What is a premium?
_______pay is before deductions;_________pay is after deductions
Employees complete this form to determine how much income tax should be withheld from their paychecks
What is the W-4?
The decisions and activities of an individual regarding their money.
What is Personal Finance?
A car payment is this type of expense.
What is fixed expense?
To build wealth and increase purchasing power over time is the goal of________
What is investing?
The standard pay rate for overtime.
What is 1 1/2 the normal pay rate?
This is withheld from an individual's paychecks to provide retirement, unemployment, and disability insurance.
What is Social Security Tax?
Financial success=____% knowledge, and ____% behavior
20% knowledge, 80% behavior
A system that divides cash into categories for planned monthly expenses.
What is the envelope system?
The amount you must pay out of pocket before your insurance begins to pay
What is the deductible?
A percentage of a sale paid to the salesperson
What is commission?
These three things are required deductions from an employee's paycheck
What is Social Security tax, Federal Income tax, and Medicare tax
When you give up some of one thing to gain of something else.
What is a trade-off?
These steps are missing from the 5 step financial planning process:1. __________2. Gather information 3. analyze information 4. ___________5. implement and evaluate the plan
What is 1. Set goals and 4. develop a timeline?
This auto insurance pays for damage to your own vehicle caused by a collision with another vehicle or object.
What is Collision coverage?
This form verifies that workers are eligible for employment
What is the I-9
What is to reconcile?
The value of the next-best alternative when a decision is made.
What is an opportunity cost?
Your assets and liabilities at a specific point in time are listed on this sheet
What is a personal balance sheet?
Spreading investments among various asset classes to reduce risk
What is diversification?
This is a benefits package that allows employees to select options they want from choices
What is a cafeteria plan?
What is a checking account?
The correct sequence in the PACED decision making model
What is problem, alternatives, criteria, evaluation, and decision