Wildcard
This religion makes up 95% of Kosovo.
What is Muslim/Islam?
An expense that does not change month to month, such as a car payment or rent.
What is a fixed expense?
A tax that is paid based on the value of the real estate that you own
It is used for local services, mostly schools/education
What is a property tax?
-Checking
-Savings
-Money Market
-Certificate of Deposit (CD)
What are ways to store your cash?
This is a graphical representation of a culture, where 10% is observable (behaviors/practices) and 90% requires deeper learning (values, perceptions, beliefs, etc.)
What is the cultural iceberg?
A tax on specific goods like alcohol and cigarettes
What is a sin tax?
A form that your employer sends you at the beginning of each year to help you file your tax return
What is a W-2?
The amount of money a college student should have saved, and the amount of money a professional should have saved.
What is $1000? What is 3-6 months worth of expenses?
This President authorized NATO to come to Kosovo's aid during its war with Serbia and is known as a hero to Kosovo
Who is Bill Clinton?
The average household income mentioned in lecture
What is $120,000?
-Present Security
-Present Freedom of Choice
-Future Security
-Future Freedom of Choice
What are the four elements of financial well-being?
-interest
-dividends
-capital gains
-IRA/pension/annuity
-unemployment
-social security
What is unearned income?
-ATM fees
-minimum balance fees
-returned check fees
-overdraft (NSF) fees
-Monthly/annual fees
What are some of the common bank fees?
In Kosovo, relationships are viewed as "Cheaper is better."
What is the survivor mentality?
An institution that offers similar services to a bank, but is not for profit. It is member owned and shares profits through dividends (not interest)
What is a credit union?
Interest that is paid on both the loan amount and additional interest. It can occur daily, monthly, quarterly, or annually.
What is compound interest?
A tax credit that you can receive as an undergraduate for four years, up to 25,000 per year.
What is an American opportunity credit?
The FDIC insures up to this much money per depositor in the event that a bank fails or is robbed
What is $250,000?
The percentage of Kosovo residents under age 25.
What is 50%?
Any unnecessary, repeated expenditure.
What is the latte factor?
-PV (present value)
-FV (future value)
-i (interest)
-n (number of compounding periods)
What are the elements of the time value of money equation?
The standard deduction for a single person
What is $12,550?
This type of check can be purchased at the post office for a predetermined amount and used to pay a specific expense.
What is a money order?
The amount of euros wealthier/higher class people in Kosovo make per month.
What is 1000 euros?