Credit cards
Responsible credit card use requires________?
a balance of good financial habits, including paying off your balance in full, monitoring your spending, and staying informed about your card’s terms.
What is a Premium?
Amount you pay periodically to keep your insurance policy. (monthly, quarterly, annually)
What is a stock?
portion of a company's ownership, usually represented by certificates
What is a Credit score?
range is 300-850 and is used by lenders to access your credit worthiness
This term refers to money set aside for retirement, which can include savings, pensions, and investments.
retirement planning
What is the risk of having too many credit cards?
Missing payments and over spending
What is a claim?
A request made by the policy holder to the insurance company for payment or reimbursement for a covered loos or expense
What is the gain/loss percentage?
Percentage of change in the gain or loss of your stock since you have bought it
What is financial literacy?
ability to understand and effectively manage personal finances, including budgeting, saving, investing, and making informed financial decisions.
what is a debt?
amount of money you owe
What is credit utilization and why is it important?
The percentage of your available credit you are using. Important because if you use to much it can negatively affect your credit score.
____ makes drivers responsible for small losses and insurence helps pay for ______ losses.
Deductibles, Larger
What is market price?
The price at which a stock is bought or sold at a given time in the market
What is interest?
the money owed for borrowing someone's money in a loan.
What is forbearance?
temporary postponement of loan payments
What is an APR?
Annual percentage rate
What do you need to do before you get Insurence?
-evaluate risks-research providers-obtain quotes-review policy options
What is a dividend?
A payment to shareholders that is typically made quarterly and represents a portion of a company's profit
what is impulse buying?
Buying without planning, based on what you want in the moment
what is the process of overseeing and coordinating resources to achieve goals called?
management
35%
What is a cash value?
the amount of money accumulated in certain types of life insurance policy that can be accessed or borrowed against
what is insider training?
its the selling or purchase of stocks and other security's based on nonpublic material inside your information. also is illegal
If possible, always pay your credit, card balance in full, each month to avoid what?
High interest rates
This method of budgeting assigns a percentage of your income to categories like savings, housing, and food....?
50/30/20 rule