Term
| What does P.Y.F stand for? What is it? |
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Definition
| Pay Yourself First. developing the habit of saving regularly and paying yourself first. |
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Term
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Definition
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Term
| What is a variable expense? |
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Definition
| Expenses that changes in amount from period to period |
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Term
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Definition
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Term
| What is a checking account? |
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Definition
| 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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Term
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Definition
| Total hours you have worked times an hourly wage. |
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Term
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Definition
| An expense that is the same amount each time. |
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Term
| What is payroll deductions? |
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Definition
| The money taken out of your paycheck by an employer to pay for taxes, helath insurance, etc. |
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Term
| What is a saving and spending plan? |
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Definition
| A personal budget for managing money during a given period of time. |
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Term
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Definition
| Any money that you have coming in. |
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Term
| Give two examples of spending. |
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Definition
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Term
| List three deductions from a paycheck. |
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Definition
1. State Income Tax
2. Federal Income Tax
3. Social Security Tax |
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Term
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Definition
| Automated Teller Machine- You can take money out form your account by using a OIN number(personal identification number). |
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Term
| What is overdraft protection? |
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Definition
| A short term loan from the bankto cover the amount in which you over drew your account. |
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Term
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Definition
| Fees for going to an ATM outside of your institution. |
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Term
| What are insuffcient funds? |
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Definition
| When you dont have enough money in your account and you write a check and it bounces. The fees are about $15 to $30. |
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Term
| What is an annual or monthly fee? |
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Definition
| Some accounts may charge you just for opening an account. |
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Term
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Definition
| To tell your employer how much to withhold from your paycheck for taxes. |
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Term
| What is a minimum balance? |
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Definition
| Some accounts may require you keep a minimum balance in your account. Most accounts are about $200. |
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Term
| What is a minimum balance? |
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Definition
| Some accounts may require you keep a minimum balance in your account. Most accounts are about $200. |
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Term
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Definition
| To show the taxes withheld from your paycheck for that year. |
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