Life Planning Ch. 26 & 27

2. costs that are predictable and that recur regularly.
4. an employers payroll monies are electronically transferred directly into their employees personal checking or savings accounts.
8. to sign the back of a check in order to transfer it to another person or institution.
9. the total income earned before deductions are made.
12. the money received after Social Security income tax and other deductions have been taken from the paycheck.
15. a rating based on how promptly a person pays his or her debts.
16. sources or amounts of income that are not taxed.
18. a card used to transfer money from your bank account to a stores account when making a purchase.
20. use of future income for goods and services currently received.

1. a nonprofit financial institution owned by and operated for the benefit of its members.
3. a plan for managing income and expenses.
5. a type of credit in which the buyer is allowed to make purchases up to a specified amount paying a percentage of the balance each month plus carrying charges to keep the account revolving.
6. money subtracted from a person’s wages for such items as income tax and Social Security.
7. security for a loan.
10. and account to which taxpayers may make annual contributions up to a set amount. Taxes may or may not be paid on the contributions but interest earnings are not taxed until the money is withdrawn.
11. an order for a specific amount of money payable to a specific payee.
13. costs that fluctuate in amount and may occur less regularly.
14. a specified annual percentage of the amount of money in a savings program. A charge made for using borrowed money.
17. the dollar amount the use of credit will cost consisting primarily of interest payments.
19. convenient computerized machines that facilitate banking transactions at numerous locations 24 hours a day.