A flexible spending account (FSA) is a benefit offered by employers that allows employees to take money out of their pay before taxes, put it into an account, and then…
Category: Glossary
An emergency fund is a larger version of your rainy day fund. It’s there to cover larger, longer term unexpected expenses like the loss of a job, or unexpected medical…
A rainy day fund’s job is to protect you against small financial inconveniences by ensuring you have the cash to deal with them without having to borrow money. Using a…
A balance sheet is a snapshot (at a single point in time) of your financial situation. It lists the current values of all of your assets (cash, car, home, investments,…
