Personal Finance Working Textbook - Section 1

Income and Expenses

Lesson 1 - Income - Revenue

The term income is often used interchangeably with the term revenue; however, the two terms mean different things.  Revenue is typically used by companies on their financial statements.  In general terms, revenues are the cash earned for goods and services before expenses are paid.  Money earned by companies through investments is not considered to be revenue because it isn’t part of the main operations.  For companies, income is the money left after all expenses have been paid and other income has been added and it is generally called “net income”, or sometimes, “net profit.”   

Lesson 1 - Income - Personal Income

People call the money they receive income and not revenue.  Personal income is money that is received for performing work, providing services, money received from investments, or through other types of
incidences, such as child support.  Income is referred to either earned income or unearned income.  All income is taxable by the Internal Revenue Service (IRS).  The exception to this is income received from others living in the same house for doing things such as babysitting siblings, mowing the lawn, or
receiving allowance for completing chores.  While this is a form of income, the IRS doesn’t require taxes to be paid on it. 

Lesson 1 - Income - IRS

The IRS is the revenue service for the federal government of the United States.  The IRS is a bureau of the Department of Treasury.  The IRS collects revenue by collecting taxes from income earned and unearned by people and businesses.  The IRS is also responsible for enforcing tax law. 

Lesson 1 - Income - Earned Income

Earned income is money received from performing work or providing services.  Money can be in the form of cash or an in-kind object.  An in-kind payment is when a person receives an item in exchange for work performed such as receiving room and board for providing cleaning and childcare services. 
In-kind payments are considered to be of equal value for the work performed.  In-kind payments are taxable in states where income is taxable and as federal income taxes.

Lesson 1 - Income - Unearned Income

Unearned income, sometimes referred to as passive income, is income that is received when work isn’t performed and services are not provided.  Some examples of unearned income are a cash gift by extended family or friends, retirement benefits, dividends and interest from investments, and child
support.  Another example of unearned income would be when a person owns a house and rents it out.  If they do not actively participate in caring for the property and hire others to provide maintenance, the rent payment received after paying all expenses is considered unearned, or passive, income.

Exercise 1.1

Complete the following exercise by indicating if the example on the left is either earned income (E),
unearned income (U), or income that is not taxable (N).  

Exercise 1.1 - Question 1

Remember, earned income is money received for performing work or providing services, unearned income is received when work isn't performed or services or not provided, and money received as a gift is income that isn't taxable.

  • E - Earned income
  • U - Unearned income
  • N - Income that is not taxable

Complete the following exercise by indicating if the example on the left is either earned income (E),
unearned income (U), or income that is not taxable (N).  The first one is completed for you as an example.

Money received from working at a fast-food restaurant.      __E___

1.  Wages received for helping a neighbor clean their house.  

 

Exercise 1.1 - Question 2

Remember, earned income is money received for performing work or providing services, unearned income is received when work isn't performed or services or not provided, and money received as a gift is income that isn't taxable.

  • E - Earned income
  • U - Unearned income
  • N - Income that is not taxable

Receiving a video game for mowing and raking the lawn of a friend.

Exercise 1.1 - Question 3

Remember, earned income is money received for performing work or providing services, unearned income is received when work isn't performed or services or not provided, and money received as a gift is income that isn't taxable.

  • E - Earned income
  • U - Unearned income
  • N - income that is not taxable

Interest earned by a bank for money in a savings account.

Exercise 1.1 - Question 4

Remember, earned income is money received for performing work or providing services, unearned income is received when work isn't performed or services or not provided, and money received as a gift is income that isn't taxable.

  • E - Earned income
  • U - Unearned Income
  • N - Income that is not taxable

Birthday money received from a parent living in the same house.

Exercise 1.1 - Question 5

Remember, earned income is money received for performing work or providing services, unearned income is received when work isn't performed or services or not provided, and money received as a gift is income that isn't taxable.

  • E - Earned income
  • U - Unearned income
  • N - Income that is not taxable

Child support money received.

Exercise 1.1 - Question 6

Remember, earned income is money received for performing work or providing services, unearned income is received when work isn't performed or services or not provided, and money received as a gift is income that isn't taxable.

  • E - Earned income
  • U - Unearned income
  • N - Income that is not taxable

Cash received from a person in your neighborhood for walking their dogs.

Exercise 1.1 - Question 7

Remember, earned income is money received for performing work or providing services, unearned income is received when work isn't performed or services or not provided, and money received as a gift is income that isn't taxable.

  • E - Earned income
  • U - Unearned income
  • N - Income that is not taxable

Cash received for babysitting younger siblings.

Exercise 1.1 - Question 8

Remember, earned income is money received for performing work or providing services, unearned income is received when work isn't performed or services or not provided, and money received as a gift is income that isn't taxable.

  • E - Earned income
  • U - Unearned income
  • N - Income tax is not taxable

A gift card received for helping a person move.

Exercise 1.1 - Question 9

Remember, earned income is money received for performing work or providing services, unearned income is received when work isn't performed or services or not provided, and money received as a gift is income that isn't taxable.

  • E - Earned income
  • U - Unearned income
  • N - Income that is not taxable

Grant money received to go to college.

Exercise 1.1 - Question 10

Remember, earned income is money received for performing work or providing services, unearned income is received when work isn't performed or services or not provided, and money received as a gift is income that isn't taxable.

  • E - Earned income
  • U - Unearned income
  • N - Income that is not taxable

A bag of oranges received for a bag of avocados. 

Exercise 1.2

Matching terms with definitions:

  • Earned Income
    Money received for performing work or providing services.
  • In-Kind
    An item received in exchange for work performed or services provided.
  • Net Income
    The money that remains after expenses are subtracted from revenues.
  • IRS
    The governmental agency that receives revenue through the collection of taxes.
  • Revenue
    Cash generated from the sales of goods and services by companies.
  • Unearned Income
    Money received when work isn’t performed or services are not provided. It is sometimes called passive income.

Lesson 2 - Expenses - Fixed Expenses

Expenses are costs spent on goods and services.  Expenses are either fixed, variable, or discretionary.  Fixed expenses are costs that do not change from month-to-month.  These are costs that must be paid even if a person doesn’t have the money to pay for them or their income decreases.  Several examples of fixed expenses are payments for rent or mortgage, an auto loan, or an auto insurance bill.  A mortgage could be refinanced for a lower monthly, a person could move to place with a lower rent payment, and the terms for auto insurance could be changed, but changes to these items is not easily done. 

 

Lesson 2 - Expenses - Variable Expenses

Variable expenses are those items that do not have to be purchased and typically varies with a person’s income and/or activity.  Variable expenses increase and decrease according to a person’s wants and desires, but they are still needed.  For example, a person may spend $50 a week for groceries, but the cost of groceries varies on a person’s preference.  Additionally, while a person can’t go without eating, and therefore they must spend money on groceries, a person can adjust their food costs according to their income. 

Variable expenses can also fluctuate with activity.  For instance, most cell phone bills have a set cost each month, however, that cost can increase according to usage outside of the stated plan.  If a person travels internationally and adds the international plan for a month, their cell phone bill can increase from $30 to $120 depending on the option they choose.   

Lesson 2 - Expenses - Discredtionary Expenses

What about costs for eating out, going to the movie theater, or trendy clothes?  These costs are called discretionary expenses.  Discretionary expenses are for things you don’t have to spend money on to live.  Clothes are necessary, but a person who has a tight budget can shop for less expensive clothes than the trendy ones.  Going to the movie theater and eating out are optional activities.  They are fun, but not necessary to live. 

Lesson 2 - Expenses - Fixed, Variable, Discredtionary Expenses

The terms “fixed” and variable” are commonly used with business expenses.  When talking about personal finances, most books and financial institutions use the terms “expenses and discretionary spending.”  In these instances, expenses are those that must be paid such as an auto or college loan. 
Discretionary spending are those expenses that are considered optional, such as a cell phone.  A cell phone may not seem optional, but from a financial institution’s perspective, a person could choose not to have a cell phone if their income didn’t support that expense.   

Exercise 2 - Crossword Puzzle

Match the definitions below with the terms using the crossword puzzle as a guide.  Drag and drop the answers into the correct spot below the crossword.

Across Definitions:

1.  An expense that is the same cost each month and must be paid.
2.  Another word for expenses and identifies the price of an item.
3.  An expense that doesn’t have to be incurred.  It’s another word for discretionary.
4.  The governmental agency that receives revenue through the collection of taxes.
5.  Money received when work isn’t performed or services are not provided.  It is sometimes called
      passive income.
6.  An expense that is still necessary, but can change from month to month.
7.  The money that remains after expenses are subtracted from revenues.
8.  Money received for performing work or providing services.

Down Definitions:

9.  Expenses that are optional, such as eating out.
10.  What a financial institutional calls the money a customer borrows.
11.  Wages and money earned from working.
12.  An item received in exchange for work performed or services provided.
13.  The cost or money spent on a something.
14. Cash generated from the sales of goods and services by companies.

Note:  When the answer is “net income,” only the word “net” is used in the puzzle.

 

  • Fixed
  • Costs
  • Optional
  • IRS
  • Unearned
  • Variable
  • Net
  • Earned
  • Discretionary
  • Loans
  • Income
  • In-kind
  • Expenses
  • Revenue

Lesson 3 - Savings

Savings is putting money aside for use at some point in the future.  Savings is beneficial for many reasons.  It opens up purchase and/or investment opportunities in the future, meets financial goals, allows for payment of expenses when income is decreased or stopped for a period of time, earns money while not being used, and provides a source of income for retirement. 

Lesson 3 - Savings - Shareholders

The most common way of saving money is using a savings account at a financial institution, which comes in different forms.  Savings accounts are also called deposit accounts.  It’s important to note that credit unions refer to savings accounts as “share” accounts.  To open an account in a credit union, a person has to qualify for membership of the credit union.  Different credit unions have different membership qualifications.  This membership means each account holders at their credit union owns a “share” in the credit union.  Members are also considered shareholders of that credit union because they own shares in the credit union.  Every financial institution has a variety of savings products, which typically includes a regular savings account, money market deposit accounts, certificate of deposits (CD), automatic or club savings accounts, and, IRA savings accounts.  Each type of savings account requires a minimum balance and pays varying interest rates.  Banks call the rate used to earn money in deposit accounts “interest rates”; whereas, credit unions call the rate for deposit accounts a “dividend rate”.  A dividend is the money paid by a company to their shareholders.

Lesson 3 - Savings - Regular Savings Accounts

Regular savings accounts usually have the smallest required minimum balance and pays the smallest interest.  Money market deposit accounts require a larger minimum balance and pay more interest.  As long as the minimum balance is maintained in these two type of savings accounts, a person can
withdraw and deposit freely.  However, it’s important to note that Federal law requires financial institutions to charge a fee once a savings account exceeds six (6) withdrawals in a given month. 

Lesson 3 - Savings - CDs and Maturity Dates

CDs function differently than regular savings and money market deposit accounts.  Deposits are a lump sum, deposited once, and held in the CD savings account for the agreed upon term.  The deposited money must remain in the account until it matures in order to receive all of the earned interest.  The
maturity date is the date at the end of the term.  If any or all of the money in the CD is withdrawn early, all of the interest earned is forfeited.  CD terms range from 3 to 60 months, or longer.  Interest rates tend to be higher for CD accounts.  The interest rate varies according to how much a person deposits for a set term.  The illustration on the next slide shows what a CD product chart looks like:

Lesson 3 - Savings - CD Product Chart

As you can see from Illustration 3.1, if a person deposits $1,000 into 3 Month CD, the interest rate would be .30%; whereas, if they deposit $1,000 into a 3 Year CD, the interest rate would be 1.05%.  Depositing a larger sum of money for a longer period of time earns more money. 

Lesson 3 - Savings - Club Accounts

Another type of savings account that some institutions pay higher interest rates are club accounts, which are basically automatic savings accounts.  These accounts either withdraw a predetermined amount of money from a checking account or an automatic paycheck deposit.  The amount withdrawn is set by the account holder; however, there is sometimes a minimum and/or maximum monthly deposit amount required.  These accounts also require the account holder to leave all deposited funds in the account for the agreed upon term, which is normally a year.  There are a whole variety of club accounts to meet the wide variety of needs of consumers; Christmas/Holiday, Vacation, and Wedding to name a few.

 

Lesson 3 - Savings - Early Withdrawal Penalty

The last savings account discussed for this Chapter is an IRA account,  which will be brief as more information is shared in the Investments Section.  An IRA savings account requires a lump sum deposit and it is used for retirement.  Once money is deposited into an IRA account, it cannot be withdrawn early without losing the interest earned and  paying penalties, called an “early withdrawal penalty.” 

 

Lesson 3 - Savings - Financial Institutions Pay for Deposits

Why do financial institutions pay people for their deposits?  Why do the rates vary among institutions?  In simple terms, financial institutions use the money deposited into savings accounts in their institution to fund the loans they give to people for houses, autos, credit cards, etc.  Financial institutions go through cycles of needing more or less deposit funds.  They use interest rates to attract and dissuade people from depositing money.  They will offer higher interest rates when they need more deposits and lower interest rates when they need fewer deposits.  

Lesson 3 - Savings - Liquid and Laddering

An astute investor will use a variety of savings accounts.  Sometimes money is needed quickly.  When that is the case, it’s good to have money in a savings product that is liquid, or easy to get rather quickly such as within a week.  Since money that is in a regular savings account doesn’t earn much, it is a good idea to also have money in savings accounts that earn a higher interest rate, but require a longer commitment.  One way to have multiple CDs without having maturity dates at the same time is to ladder the CDs accounts.  Laddering means opening several CDs with staggered maturity dates.  For example, if a person had $8,000 to invest in CDs, but didn’t want to tie up all of the money for an extended period of time, they open four CDs for a $2,000 each.  They would open a 6-month, 12-month, 18-month, and a 24-month CD.  Since CDs are not considered liquid, the investor would have to be okay with waiting six months for a CD to mature.  In this example, if the 6-month CD matures and the money isn’t needed, the CD could be allowed to automatically renew for another 6-months.  This would keep the CD maturity dates laddered and the money available in a fairly reasonable time frame.

 

Exercise 3.1

Fill in the blanks.

1.  Putting money aside for the future events is called .

2.  Name three benefits to having a savings account: , , .

3.  A  is used to save money at a financial institution.

4.  Credit unions refer to savings accounts as  account.

5.  Members at credit unions are known as .

6.  Most financial institutions pay  for deposits into savings accounts using an   to determine how much they will pay.

7.  Money paid to a shareholder of a company is called .

8.  A person would pay a penalty called    for withdrawing money before the specified time on an IRA.

9.  Financial institutions need deposits in order to fund  to consumers.

10.  Quick access to money means it is .

11.  In order to have multiple CDs maturity dates, a person would  the CDs.

12.  Determining the upcoming worth of an investment is called the  .

13. Determining the future value of an investment can be done by using an online .

14.  Savings should be  in order to be prepare for all circumstances.

Exercise 3.2

Using the following CD product chart, fill in the blanks below.

1.  The interest rate for a 3-month CD with a $10,000 deposit would be  %.

2.  What CD term would a person need to select to get a rate of 2.20%? 

3.  How much money would a person need to invest to get a rate of 2.05% for a 4-year term? 

4.  Susie chose a 3-year CD that has an interest rate of 1.75%.  Upon maturity of the CD, she has a balance of $52,671.21.  How much was her initial deposit?   How much interest did she make?    

Lesson 4 - Giving

Giving is freely giving something to someone else without the expectation of anything in return.  This can be done through giving money to a non-profit organization such as a church or the United Way, giving something of material value to a person in need or to a charitable organization such as a thrift store, or giving time to help others.

The decision to give is an individual decision and cannot be determined by looking at what others give because incomes, expenses, and available personal time vary.  How much should a person give?  Many live by the Biblical example of a 10% tithe while others gauge how much to give through personal preference.  Sometimes giving money isn’t possible due to very low income or no job, but during those times, a person may still be able to give their time. If one were to go to five different people and ask the best way or how much to give, they would most likely get five very different answers.  Regardless how much a person gives, giving has positive emotional benefits.  There is a sense of accomplishment when a person in need can be helped.

This lesson, however, focuses on the monetary aspect of giving.  Giving money or material items of value can have a tax benefit for those who are able to claim deductions, which isn’t usually the case for those who haven’t purchased a house and had kids.  However, understanding the benefit of deductions for charitable donations is part of personal finance. 

Lesson 4 - Giving - Itemizing

Claiming personal deductions on a tax return means itemizing those deductions.  Itemizing deductions is listing all allowable deductions in order to lower one’s taxable income.  Lowering taxable income means lowering how much is owed in taxes, or lowering a person’s tax liability.  A tax liability is how much tax is owed.  Personal deductions, such as donations to non-profit organizations can reduce a person’s tax liability. 

Each year, when tax forms are completed, people can choose from a 1040EZ or a 1040.  Basically, the 1040EZ is for those who are not itemizing their deductions and the 1040 is for those who are itemizing their deductions. Once a person is no longer a dependent of someone else such as their parents, they can begin to claim the standard deduction, which can change from year to year.  In simple terms, a standard deduction is the amount of money that can be deducted from the taxes owed by a person or married couple.  For 2015, the standard deduction for a single taxpayer was $6,300. 

Many people do not know when to begin itemizing their deductions. Itemizing deductions would begin when there are more itemized deductions than the standard deduction.  Itemized deductions include home mortgage expenses, charitable donations, property taxes, state income taxes, medical expenses, etc.  For charitable donations, it not only includes money given but items of value donated to a non-profit such as clothing and toys.

Lesson 4 - Giving - Example 4.1

Suppose:  Susie is a freshman in college and has a job making $10,000 a year.  It’s February and she is sitting down to do her taxes.  Last year she gave $500 to a non-profit and some old clothes to a local charity worth $100.  She doesn’t have any other deductions.  Her parents are claiming her as a dependent on their taxes.  Which tax form would Susie use?  If the single taxpayer deduction for the year is $6,300, can she deduct her charitable expenses?

Answer:  Susie would use the 1040EZ form.  Since her parents claim her as a dependent, Susie cannot claim the single taxpayer deduction.  Additionally, if Susie was able to claim herself, her $600 in charitable deduction does not exceed the single taxpayer deduction of $6,300.

Lesson 4 - Giving - Example 4.2

Suppose:  Susie lives on her own, claims herself as a dependent, purchased a house, and makes $40,000 a year.  It’s March and she is sitting down to do her taxes.  Last year she gave $4,000 to a non-profit and some personal items to a local charity worth $700.  She volunteered 100 hours at a non-profit animal shelter, which she thinks is worth $10 an hour, or $1,000.  She paid $1,500 on home mortgage insurance and $1,100 in property taxes.  She doesn’t have any other deductions.  How much are her deductions?  Is it enough to itemized if the single taxpayer deduction for the year is $6,300?  Which tax form would she use if she claims her itemized deductions?

Answer: Susie’s deductions total $7,300 ($4,000+$700+$1,500+$1,100).  Susie cannot claim time that is volunteered to a non-profit, only money and items of value.  Since single taxpayer deduction for the year is $6,300 and her itemized deductions total $7,300, she does have enough to itemize and claim her deductions.  She would use the 1040 if she decides to use her itemized deductions.

Lesson 4 - Giving - Non-profits

Giving money to a non-profit, for the purposes of tax deductions, is only deductible if given without receiving anything in return.  For example, if a person gives $25 to the Girls Scouts as a donation and doesn’t receive anything in return, it can be used as a tax deduction.

However, if a person gives $25 to the Girl’s Scouts and receives cookies in exchange, that $25 is not deductible.

Giving money to non-profits such a church or charitable organization is an important aspect of life and the IRS has sought to allow an economic benefit for those who do.  It’s important to remember there is more than an economic benefit. 

Exercise 4 - True or False Questions 1 - 7

  • Itemizing deductions is listing all non-allowable deductions in order to lower one’s taxable income.
  • A tax liability is the amount of tax a person or company owes.
  • When itemizing deductions for taxes, a person would use the 1040 tax form.
  • A person can use volunteer hours at a charitable organization as tax deduction.
  • There are many different attitudes towards how much to give.
  • There are positive emotional benefits to the giver when they give to others.
  • Volunteering one’s time to help others is a form of giving.

Exercise 4 - Question 8

  • Giving money to a person out of force.
  • Paying a bill that is due.
  • Walking a neighbor’s dog in exchange for a bag of oranges.
  • Freely giving something to someone without expecting anything in return.Freely giving something to someone without expecting anything in return.
  • All of these.

Which of the following describes giving:

Exercise 4 - Question 9

  • 1040
  • 1004EZ
  • 1040EZ
  • 1014EZ

The simple tax form used when a person isn’t itemizing their deductions is  called:

Exercise 4 - Question 10

  • $4,400
  • $4,450
  • $4,475
  • $3,900

A person has the following itemized deductions:  $500 for mortgage interest; $900 for property taxes; $3,000 donations to a church; and $50 for buying popcorn from the Boy Scouts.  How much is their allowable tax deductions:

 

Quiz - Section 1 - True or False Questions 1 - 10

  • The term ‘revenue’ is typically used to describe personal income.
  • Variable expenses are those that are the same each month.
  • Savings is putting money aside to use the future.
  • Itemizing deductions for tax purposes is listing all allowable deductions.
  • The IRS is a charitable organization for homeless people.
  • Discretionary expenses are not the same as variable expenses
  • Dividends are paid by a company to their employees as wages.
  • Giving is being forced to give something to someone without an expectation of anything in return.
  • An in-kind payment is when a person receives something of value in exchange for work performed.
  • The maturity date on a loan is when the loan begins.

Quiz - Section 1 - Question 11

  • Wages received from working at the local fast-food restaurant.
  • Interest earned from money in a CD.
  • Cash received for raking a neighbor’s lawn.
  • Money received for helping a friend move.

Which of the following is NOT an example of earned income:

Quiz - Section 1 - Question12

  • Costs that change from month-to-month.
  • Buying an expense cost.
  • Costs that do not change from month-to-month.
  • a and b above
  • None of the above.

Which of the following is the definition of fixed expenses:

Quiz - Section 1 - Question 13

  • Money due for stopping piano lessons.
  • Money due for withdrawing money from a regular savings account.
  • Money due for not paying taxes on time.
  • Money due for withdrawing money out of an IRA before the specified time.

What is an early withdrawal penalty:

Quiz - Section 1 - Question 14

  • Buying a book from a non-profit organization.
  • Giving money to a local church.
  • Volunteering time at a local library.
  • Paying for a meal for a friend who is hungry.

Which of the following in NOT an example of giving:

Quiz - Section 1 - Question 15

  • Produced
  • Created
  • Passive
  • Generated

What is another word for unearned income:

Quiz - Section 1 - Question 16

  • Gift account
  • Share account
  • Club account
  • Reserves account

What is another name for a savings account at a credit union:

Quiz - Section 1 - Question 17

  • Utility bills
  • Eating at a fancy restaurant
  • Rent payment
  • Groceries

Which of the following is an example of a discretionary expenses:

Quiz - Section 1 - Question 18

  • 1014EZ
  • 1040EZ
  • 1014
  • 1040

If a person wants to claim their charitable donations on their taxes, which form would they use:

Quiz - Section 1 - Question 19

  • Earned income
  • In-kind income
  • Unearned income
  • Passive income

19. A person received a baseball mitt in exchange for cleaning a neighbor’s pool.  What type of income would this be:

 

Quiz - Section 1 - Question 20

  • Fixed expenses
  • Variety expenses
  • Variable expenses
  • Future expenses

Expenses that vary in cost, but are needed each month are called:

Quiz - Section 1 - Question 21

  • A regular savings account where money can be withdrawn in a day.
  • A CD where money can be withdrawn in a day, but all interest is lost.
  • An IRA account for retirement.
  • A club account where money can be withdrawn in a day, but all interest is lost.

Which of the following describes a savings account that is liquid:

Quiz - Section 1 - Question 22

  • Internal Routing Service
  • Installment Revenue Service
  • Income Revenue Service
  • Internal Revenue Service

What does IRS represent:

Quiz - Section 1 - Question 23

  • To use a variety of products for savings.
  • To only use one savings account.
  • To open five CD accounts.
  • To open more than one checking account.

What does it mean to diversify with savings:

Quiz - Section 1 - Question 24

  • Opening four 6-month CDs on the day.
  • Opening a 24-month CD.
  • Opening a 6-month, 12-month, 18-month, and 24-month CD on the same day.
  • None of these represent laddering CD accounts.

Which of the following represents laddering CD accounts:

Quiz - Section 1 - Question 25

  • Knowing others in need have been helped.
  • Possibly lowering one’s tax liability.
  • Feeling a sense of gratitude.
  • All of these are benefits of giving.

Which is the best benefit of giving:

Glossary

Glossary - Appraisal through Dependents

Glossary - Direct Deposit through Itemizing Deductions

Glossary - Laddering through Personal Income

Glossary - Personal Net Worth through Underwriting

Glossary - Unearned Income through Variable Interest Rate