Income after taxes
A plan on how to save and spend your money
kinds of spending that can be controlled and typically change from month to month.
Income that is left over after taxes AND aconsumer's necessary expenses
expenses which stay basically the same from month to month, such as housing and transportation.
When you pay off your smallest debt first and then use that money to pay off your 2nd biggest debt and then...
a savings account you can access quickly to pay for unexpected expenses or emergencies
A budget that accounts for every dollar earned. The amount coming in matches the amount going out or saved.
a card used to withdraw money from a checking account
pay off debts progressively, starting with the highest INTEREST RATE first
5 steps to financial "peace"
1. $1000 in an emergency fund 2. Pay of debt (snowball) 3. 3-6 months of savings 4. 15% of income toward retirement in a ROTH 5. Pay off your home early.
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