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Money Management Vocabulary

FOR WISE test

AB
Assethas financial value
Liabilityyou responsible
Net worthassets minus debits
Roth IRAtaxed but not in retirement
Better Business Bureaufinds problems-business
Down payment20% best-buy house
Tax deferredpay when retired
Sales taxpay when buy something
Fixed mortgageInterest rates stays same
EquityPart you own of your house
Phishingfraud--reveal personal info
Utilitiesgas, electric, etc
TitleOfficial paper-you own something
Income taxTax on what you earn
Property taxTax on house or car
Ssecurity depositPay before rent apt.

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