You can use money from checking accounts by writing checks or by using an ATM (automated teller machine) or debit card.

Checking accounts allow you to use an ATM/debit card any time you want. That is why they are called:

You never want to spend more than the balance of your checking account.

Most checking accounts also offer ____ online banking

A money plan that includes expected income, spending, and any other financial requirements in a given time period.

You should include these things in your budget:

Expenses that are absolutely necessary are called _____ expenses

Items that are not essential things you need.

These are expenses that stay the same month after month.

These are expenses that do not occur regularly but it is important to prepare for them.

These are expenses that change from month to month.

Type of savings to pay for a summer vacation or a new flat-screen television.

_______savings goals might include paying for your child’s education or buying a house.

All debt is bad.

Good debt includes:

Having debt will increase your wealth.

A good debt is something that will increase in value or improve your ability to make money, chances are you will increase your wealth.

Using your credit cards to pay for all of the extra items you want and cannot afford during the month is a good use of credit.

Online banking is a convenient for:

Incurring good debt can also increase your ____, which will help you buy big tickets items later on.

Good debt includes _______ that you cannot afford to pay for up front.

Good debt is:

College loans are generally considered good debt because

Bad debt is:

Credit cards are generally seen as bad debt because:

If you use your credit card to pay for all of your food, clothing, and other items during the month, it can be a good debt if

Even if you make your credit card payments on time, the credit card bank can raise your interest rate automatically if you're late on payments elsewhere.

A FICO score is:

It's important to read the fine print on your credit card agreement.

Significant credit card debt can put you at a markedly higher risk of bankruptcy.

A _____ interest rate helps you to pay off the debt faster when paying the minimum balance.

For the ______ paid for the policy, the insurance company agrees to protect you, within stated amounts, from the potential losses listed in the policy.

Most home owners insurance includes this type of protection.

The amount of income earned before any deductions or taxes or taken out

The amount of income received after deductions and taxes are taken out

Government fees on income, property, goods, or other activities

Federal Insurance Contributions Act used to fund Social Security and Medicare

Federal program that provides benefits to retirees, the handicapped, and children of deceased workers

When making a budget your goal is to save ____ of the family’s take-home pay by the end of the 12 months.

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