Time Value Money
What is the rate of return or fee charged for the use of money over time?
Interest rate
What is the ability to borrow money based on trust that you will repay it.
Credit
Who pays taxes?
We all do!
What is it called when you allocate 50% of your after-tax income to needs, 30% to wants, and 20% to savings and debt repayment.
50/30/20 Rule
What is the principle that states that the higher the potential return of an investment, the higher its associated risk
Risk and return
What is worth more today than it will be in the future
Money
What are the three major credit bureaus?
Experian, TransUnion and Equifax
What do property taxes pay for?
Schools, fire departments and police.
List 3 things that you would want on a budget.
Rent, phone, utilities, clothing, insurance.
What is the concept where a dollar received today is worth more than a dollar received tomorrow?
Time Value of Money
What does Time Value of Money Calculate?
Future value of money.
What is money that is owed to another person or institution.
debt
How long have taxes been around?
Over 5,000 years
What does a budget show you?
What is the process of creating a plan to manage your income and expenses?
Budgeting
What is the general increase in prices and fall in the purchasing value of money.
Inflation
What shows your credit activity, including your payment history with each of your credit accounts.
Credit report
What does the government ask us to pay taxes on? Be specific.
What is a summary of your income and expenses for a given period of time.
Budget
What is the movement of money into and out of your account?
Cash flow
What is the total amount of money entering and leaving a business over a specific period.
Cash flow
What is money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt.
Interest
What tax is levied on individuals and organizations and cannot be shifted to another payer?
Direct Tax
What does SMART stand for?
What is the ease and speed with which an asset can be converted into cash?
Liquidity