Budget
What is a budget?
A plan for your Finances / Time
Who do you pay first?
Yourself.
True or False:
Declaring Bankruptcy wipes away all debts for you.
False
This is purchasing a microscopic portion of a company.
Buying Shares / Stocks
What year did Mr. B graduate Highschool
2018
This is how far out a goal is set to change from a Short Term to a Long Term Goal.
Longer Than One Year.
When are the 3 main times you pay taxes?
Make It
Spend It
Own It
Is writing a check a debit or credit transaction.
Debit
True or False:
I want my money invested into a bunch of different investments, rather than all my money in one investment.
True
How many years has Mr. B Coached?
8 Years
(first year not coaching soccer since 16)
I am at a golf store to buy a new glove, however I see a new driver on sale. I buy it, this would be a ________ buy.
Impulse
What does the government do with our taxes?
Pays for public things. (Schools, Parks, Roads, Etc.)
Explain the difference between banks and credit unions.
Banks profits go to shareholders.
Credit Union profits go to members.
Who is borrowing money from who with a government bond?
Government is borrowing from you with interest promised after a certain time period.
How many sister's does Mr. B have?
0 (2 Brothers)
This is something that requires you to spend money on things like good, services, and bills.
Expenses
Difference Between Gross and Net Income.
GROSS - EXPENSES = NET
The money paid to the borrower as an incentive to borrow someone money.
Interest
This type of investing is done with prebuilt portfolios that are meant for people to "invest together"
Mutual Funds
True or False:
Saving and Checking Accounts are the same thing.
The "cost" of making any decision and not being able to do another thing.
Opportunity Costs
Explain what the main purposes of either Social Security or Medicare are.
SS- Group Retirement
M- Group Health Care Assistance
Best way to build a good credit score.
Pay debts ON TIME.
Name 4 types of insurance we talked about in class.
Home / Rental, Health, Dental, Life, Travel, Pet, Auto, Phone
What is insurance?
Transfer of risk.