Budgeting
Expenses that remain constant each month.
What are Fixed Expenses?
A savings account and checking account earn a low amount of this.
What is Interest?
A retirement account funded with post-tax dollars that anyone with a regular income can establish.
What is a Roth IRA?
This three-digit number indicates your creditworthiness.
What is a Credit Score?
Federal income tax is collected by this government agency.
What is the IRS (Internal Revenue Service)?
Income after taxes and other deductions.
This type of account combines checking and savings features but often has higher minimum balance requirements and tiered brackets of earning.
What is a Money Market account?
This is a type of employer-sponsored retirement plan where contributions are often matched.
What is a 401(k)?
The factor that impacts your credit score by evaluating your past expenses and the payments made.
What is Payment History?
The tax group that includes Social Security Tax and Medicare Tax.
Something essential vs something non-essential for purchasing.
What is a Need vs Want?
This type of account locks away your money for a specific time period and if taken out early, you would be penalized.
What is a CD (Certificate of Deposit)?
Investing in these spreads risk across various companies or sectors through stocks, bonds, and other investments.
What are Mutual Funds?
Used to assist individuals with purchasing a car.
What is an Auto Loan?
Single, Joint (Married), Separate (Married), and Head of Household are all ____ _________.
What are Tax Brackets?
What is Salary Pay?
This account earns the lowest interest at a bank.
What is a Checking Account?
This investment is often considered a hedge against inflation and is physically tangible.
What is Gold?
The type of loan that requires collateral.
What is a Secured Loan?
These are used to reduce taxable income.
What are Deductions?
The expense that should be no more than 30% of your income.
What is Housing?
This term refers to saving a fixed percentage of your income before any spending occurs.
What is "paying yourself first"?
This is an investment opportunity offered by the government with a fixed percent rate of return.
What is a Bond?
This document breaks down each monthly payment into principal and interest amounts.
What is an Amortization Table?
This is the term used to describe income earned.
What is Gross Income?