Chapter 1
Necessities a person must have to survive.
What are needs?
The time between life and death.
What is a lifespan?
Administration uses this number to keep a record of your covered earnings
What is Social Security Number
The amount of time an individual spends at work compared to the amount of time spent in a personal life.
what is Work-life balance?
An amount of money that can be easily accessed incase of a job layoff, illness, or unexpected expense.
What is emergency fund?
The process of setting financial goals and developing plans to reach them while meeting financial needs.
What is Personal finance planning?
Is the amount spent for an item that a person could do without
What is Discretionary expense?
Uses your Social Security Number as a tax payer identification number on all tax returns and forms
What Employees maybe offered in various ways to balance job responsibilities with family and life responsibilities.
What is a positive organizational culture?
Behaving with sensitivity to social, environmental, and economic issues.
What is Social Responsibility?
An overview of an individuals current financial position and strategies to meet future financial aspirations.
What is a financial plan?
A summary of the amount of money received and the amount of money paid for goods and services during a specific period.
What is cash flow statement?
Working for others, and choosing to work for yourself.
What is many ways to earn income?
Publishes free instruction booklets annually
What is IRS?
Savings and checking account numbers, names on each account, and the name of the financial institution where each account is located.
What is financial records>
This is one of the most important requirements for making personal finance decisions.
What is knowing yourself
A written record of an individuals current financial situation. It measures financial standing at a particular point in time.
What is Net worth statement?
The set and enforced minimum wage by the government.
What is fair labor standards?
The availability of employee benefits and other extras depends on
What is the company and type of work?
Savings and investment information such as securities and investment records, including stocks, bonds, and mutual funds.
Requires the application of ethics and personal responsibility.
What if financial planning?
accessible by anyone you designate to handle your financial and legal affairs
What is important personal documents?
Matching tax.
What is FICA?
Provides free tax assistance to individuals who are age 60 or older.
What is IRS TCE Program?
Sound money management, practical credit controls, regular savings, and insurance protection.
What is avoiding financial problems?