Financial terminologies

-Income- The amount of money you bring in at work or business.

-Expense-The amount of funds spent on your living expenses and other leisure activity.

-Net Income- The amount of money earn from work or running your business before tax and or expenses.

-High Interest savings account-A Saving account that's provides higher interest then a transitional savings account usually at a interest rate of 3%-6.5 depending on institution and the rate that the feds set.

-Sep IRA, Solo 401K, Roth IRA-For Self employed and Business Owners

-401K-Employer Sponsored Retirement Account; Usually come with matching funds upto a set amount.