Loans
When paying back a loan, you need to pay it back with _______________.
Interest
Income after taxes.
Net Income
The name of the budget that Mr. Shepherd taught.
50-30-20 Rule
Putting money into stocks that can be sold to make a profit, high risk.
Investing
Does a higher interest rate result in a higher or lower monthly payment?
higher
Disposable income is your income leftover after _________ and __________ are paid for.
taxes and needs
In the budgeting rule we discussed in class, 20% of your net income goes to ___________.
Saving and Investing
The ability to buy or borrow with the expectation that the money owed will be paid back later.
Credit
Does a greater "loan term" result in a higher or lower monthly payment?
lower
If I have a gross income of $45,000 and pay $5,400 in taxes, what is my net income?
$39,600
In the budgeting rule we discussed in class, 30% of your net income goes to __________.
Wants
The type of payment that offers additional benefits like cashback, but you may be charged interest if you do not pay your bills on time.
Credit Card
The interest rate you pay on a loan may be determined based on your _______ _______.
Credit Score
If I have a gross income of $103,000, and my tax rate is 22%, what is my net income?
$80,340
In the budgeting rule we discussed in class, ____% of your budget goes to disposable income.
50
When you invest in stocks, you are buying a ____________ of one or more companies.
Share
Which category of the budget we discussed in class would monthly loan payments be in?
If I have a gross income of $62,000, a tax rate of 22%, and I use the budgeting rule we learned in class, what is my disposable income?
$24,180
Based on our budgeting rule, if I have a net income of $50,000, how much should I spend on wants?
$15,000
When your money builds interest in a savings account, it helps your money keep up with _______.
Inflation
If I have a gross income of $100,000, a tax rate of 22%, and I use the 50-30-20 rule, how much should I put toward saving and investing?
$15,600