Term
| What are some ways to stretch your dollars? |
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Definition
-Auctions, selling things online (Ebay)
-Coupons
-Wholesale Clubs (such as BJ's, Coscto) |
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Term
| _____ _____ are set dollar amounts, meaning each payment is always the same amount |
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Definition
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Term
| A plan for managing money during a given period of time is _____ |
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Definition
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Term
| What's the total amount of income from your wages or salary before deductions? |
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Definition
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Term
| These taxes help support retired veterans and disabled citizens |
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Definition
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Term
| Explain a Minimum Balance |
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Definition
| It's a certain amount of money some banks require you to have in your account. You may be charged a fee if you drop below this amount. |
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Term
| Why do some ATM's have a surcharge (ATM fee's)? |
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Definition
| It could be because you are using one outside of your institution. |
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Term
| Name some documents that you should keep for records in case of occurences in the future? |
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Definition
-Checking account statements
-Insurance (copy of declarations page)
-Tax Documents - W-2's and a copy of your 1040
-Loan Papers (Car/credit card loans)
-Paystubs
-Documentation for all major household purchases |
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Term
| What does Overdraft Protection help with? |
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Definition
| It helps if you have overdrawn your account, the bank give you a short term loan to give you time to cover it. |
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Term
| The _______ ________ is the amount of money you receive after deductions on your paycheck |
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Definition
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Term
| ______ ________ is how you handle your money going in and your money coming out |
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Definition
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Term
| What does P.Y.F stand for? |
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Definition
| Pay Yourself First - put money aside to help pay for emergencies and unexpected or planned things in the future (vacations, car accidents) |
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Term
| These expenses can change from payment to payment (gas, food, etc) |
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Definition
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Term
| This funds hospital insurance programs and helps to pay health benifits to the elderely |
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Definition
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Term
| Any money that is coming in, no matter what the source is. |
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Definition
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Term
| The amounts that are subtracted from your gross income |
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Definition
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Term
| What are some ways to find out if you're getting the best deal possible? |
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Definition
-Shop around, go to different places
-Talk to family and friends to find out their experiences
-Read the "fine print" in any documents included with products
-Read reviews - Magazines, newspapers, or even TV programs
-Read Product/Consumer reports |
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Term
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Definition
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Term
| With this type of account you can write checks for regularly occuring bills |
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Definition
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Term
| This type of account has a debit card linked to your checking account (Visa or Mastercard Symbol on the front) |
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Definition
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Term
| _____/_____ Fee's may be charged to you just for having an account |
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Definition
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Term
| Explain The Envelope System |
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Definition
1- Label an envelope for each spending category for your budget
2- Place the planned amount of money needed in the envelope each pay period.
3- When you get ready to spend money in that category, take the money out of that envelope. |
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Term
| Any money that is spent on your needs and wants. |
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Definition
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Term
| A car payment is an expample of a ______ expense |
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Definition
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Term
| This is a fee collected by your employer each pay period and paid to the IRS |
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Definition
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Term
| A budget can be broken up into two simple parts, and they are ____ & _____ |
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Definition
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Term
| Buying breakfast (mmmmm) in the morning is an example of a ______ expense |
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Definition
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