Provide a definition for income (credit) and expenses (debit) and explain why the difference between the...
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Provide a definition for income (credit) and expenses (debit) and explain why the difference between the two is important to personal finance. 2. Janis wants the convenience of paying for incidental purchases with a credit card, but her FICO score isn't high enough for her to obtain one. Explain how credit ratings work, and the importance of maintaining a good FICO score. What are some methods that Janis can use to improve her score and obtain credit? 3. Explain the difference between earned and unearned income and provide an example of each kind of income. Then describe how different types of expenses are determined. 4. How does a traditional IRA differ from a Roth IRA? 5. Explain the importance of maintaining a personal budget and managing cash flow. Provide a definition for income (credit) and expenses (debit) and explain why the difference between the two is important to personal finance. 2. Janis wants the convenience of paying for incidental purchases with a credit card, but her FICO score isn't high enough for her to obtain one. Explain how credit ratings work, and the importance of maintaining a good FICO score. What are some methods that Janis can use to improve her score and obtain credit? 3. Explain the difference between earned and unearned income and provide an example of each kind of income. Then describe how different types of expenses are determined. 4. How does a traditional IRA differ from a Roth IRA? 5. Explain the importance of maintaining a personal budget and managing cash flow.
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1 Income and expenses are fundamental concepts in personal finance Income refers to the money or funds that an individual or household receives regularly typically through sources such as employment i... View the full answer
Related Book For
Manufacturing Processes for Engineering Materials
ISBN: 978-0132272711
5th edition
Authors: Serope Kalpakjian, Steven Schmid
Posted Date:
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