Holds money not spent on current consumption, Shop for highest interest rates

Use card instead of cash. immediately deducted from bank account

Depository institution that offer many banking services and are owned by their customers. not for profit - ( non-profit)

Account that allows quick access to funds fro transactions. Overdraft fee, spend more than you have in your checking account

Commercial banks and credit unions, are safe and each insured for $250.000.00 for each account.

A tax on purchased goods and services. ex. charging 6% on purchased items

Tax on earned and unearned income. Not included on Income and Expense Statement

Charged on consumption items, gasoline, hotel rooms and airline tickets

Money demanded by a government to support the government facilities or services.

Taxed earned income. Funds Social Security and Medicare

Tax on property, such as land, buildings (including homes) and cards. Assessed are not the same, for each property. Set by state and local government

Money spent. Exceed income on spending plan, decrease expenses would be financially smart.

Assets-liability=Net Worth. Increase assets increases net worth. $20,000 net worth is greater than $15,000 net worth

Describes individual or family's financial conditions on a specified date by showing assets, liabilities, and net worth. Paychecks, and credit card balanced not included

Always under revision, never complete. Same items as a budget . Track current income and expenses

When income is greater than expenses. Earning more money than you are spending. Put in savings or pay expenses.

Items you sign a contract for: cell phone, cable bill

The amounts required to pay income and payroll taxes. Pay is less than you expected

Common feess that may be charged o saving and checking accounts

Designed to help Senior Citizens

Buy without signing a contract, gasoline, food and entertainment