Budgeting

Funds set aside for things like job loss, illness, etc

Specified amount of money an insurance company requires before it pays a claim

Car repairs are a _________ expense

Interest added to the principal so that the added interest also earns interest from then on

The name of the federal insurance program that pays retired, unemployed and disabled.

Take home pay before taxes

An item that is bought without previous planning or consideration of the long-term effects

Envelope are divided into categories (food, gas, stec) and used to store $ for monthly expenses

Which of the following is not a record-keeping feature you could expect from your bank?

Money is neither good nor bad, it is __________

A copy of each check you've written

A written cash flow plan

The portion of the loan charged to the borrower, also known as APR

Used a means for individuals to borrow and save for short term,earns more interest than savings

An amount required to be paid by an insurance company for a policy

Occurs when money is w/drawn from a bank acct and the available balance goes below zero

Budgeting is crucial for your financial success

Your monthly budget should include

The envelope system works great for managing expenses that aren't fixed

An undergraduate academic degree earned in two years

Groceries are a ________ expense.

A cost this is the same month after month is a __________ cost

"Pay yourself first" means you should assign a portion of income to saving and investing mthly

Rent is a _________ expense.

An amount required to be paid by an insurance company for a policy

Take home pay after taxes

The number one cause of divorce in North America is

Which of the following is something that a typical millionaire would do?

A debit card cannot be used for online purchases

A cost that varies from month to month is called a __________ cost.

A cash flow plan that assigns an expense to every $ of your income,total income-total expense=0

A summary that shows total income and spending for a given time period

Which of the following is a consequence of overdrawing your checking account?

 A written budget, if followed, removes ____________ from your finances.

The act of matching your bank statement with your checkbook

What percent of Americans live paycheck to paycheck?

Tax charged by IRS on annual earnings of people and companies

Doing a budget does not