Personal Finance
A formalized report that summarizes your current financial situation, analyzes your financial needs, and recommends future financial activities.
What is a financial plan?
Common stock and bond brokerage statements are an example of this record.
What is investment?
A tax imposed on the value of a person's property at the time of death.
A demand deposit is also known as this.
What is a checking account?
The maximum dollar amount of credit the lender has made available to a borrower.
What is a line of credit?
This measures the average change in prices of a fixed basket of goods and services of urban consumers
What is the consumer price index?
Items that you own that have a monetary value are referred to as this.
What are assets?
Income that is taxed at a later date.
What is tax-deferred income?
Earnings on savings can be measured by this.
What is rate of return?
The smallest amount you can pay and remain a borrower in good standing.
What is a minimum monthly payment?
What you give up by making a choice.
What is opportunity cost?
This is the amount you would have left if all assets were sold and all debts were paid in full.
What is net worth?
The tax based on the total tax due divided by taxable income.
What is the average tax rate?
Signing the back of of a check with the words "for deposit only".
What is a restrictive endorsement?
These products are sold by one chain of stores and are low-cost alternatives to famous-name products.
What are private label or store brands?
Future value computations are often referred to as this
What is compounding?
This ratio shows the relationship between debt and net worth.
What is debt ratio?
The form from the bank that reports income from savings at the end of every year.
What is a 1099?
A personal check with guaranteed payment.
What is a certified check?
This covers the repair costs of a product.
What is a service contract?
Attempts to increase income through employment are part of this component of financial planning.
What is obtaining?
The amount a person or household has to spend.
What is disposable income?
The rate used to calculate the tax due on the next dollar of income.
What is marginal tax rate?
This bond, which is no longer sold, electronically deposits interest into your bank account every six months.
What is a series HH?
The price of a leased vehicle is known as this
What is capitalized cost?