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Definition
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Term
| Sometime referred to as "cash flow" |
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| Gross income minus deductions |
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| Fees used to support the government |
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| The two simple parts of a budget. |
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| What are two examples of expenses? |
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| What are two examples of income? |
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Definition
| Deposit money into bank account. Also, saving for insurance. |
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| What is the term for Developing the habit of saving regularly and paying yourself first? |
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Definition
| P.Y.F. or pay yourself first. |
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| an account you have at a financial institution that you use for convenience and to minimize the amount of cash you need to carry. |
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| What is a spending and savings plan? |
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| A personal budget for managing money during a given time period. |
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| money taken out of a paycheck by an employer to pay for taxes, health insurance, etc. |
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| You can think of PYF as a bill you owe yourself. |
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| What is the purpose of Form W-4? |
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Definition
| to allow the employer to withhold feferal income taxes from the employees wages. |
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| What is the purpose of Form W-2? |
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Definition
| to itemize how much money was earned by an employee and how much was withhelf and sent to the IRS. |
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Definition
| how you handle your money coming in and your money going out. |
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Definition
| The amount you have left in your paycheck after the deductions are taken out. |
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Term
| What is Overdraft protection? |
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Definition
| a short term loan from the bank to cover the amount which overdrew your account. |
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| Insufficient Funds is defined as what? |
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Definition
| If you write a check for more money than you have in your account, you bounce your check. This occurs if you don't have enough overdraft protection. These fees range from $15-30 per check. |
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| a debit card card linked to your checking account(Visa or MasterCard) |
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