Budgets & Credit
Saving & Investing Vocab
S.M.A.R.T. Goals
Saving & Investing Vocab II
Investments anyone??
100
The most common source of credit today is a
What is Credit Card
100
The money you earn
What is Income
100
What does the "S" in SMART stand for?
What is Specific
100
To set aside income for a time so that you have it to use later.
What is save
100
Which of the following is most likely to have the highest rate of return? a) Stocks b) Chcking account c) Certificate of Deposit
What is A) Stocks
200
Which of the following people is most likely to have a budget deficit? a) A person who saves more than they spend b) A person who spends more than they earn or c) A person who earns more than they spend
What is B) A person who spends more than they earn
200
The money you spend oneverything
What is Expenses
200
What is a goal?
What is A goal is something one is trying to do or achieve in the future.
200
Allows you to use money from a checking account without a check
What is Debit card
200
A disadvantage of a certificate of deposit (CD) is that: a) it has a penalty for early withdrawl b) It has lots of risk c) it pays a high dividend
What is A) It has a penalty for early withdrawl.
300
The three basic parts of a budget are:
What is Income, Expense, & Balance
300
When income is more than expenses.
What is Surplus
300
What is the difference between a short term and a long term goal?
What is a short term goal is from now to less than a year to accomplish. A long term goal is a year or more.
300
Agreement to deposit a sum of money for a certain amount of time
What is Time deposit
300
When a person buys shares of stock, that person is....
What is Becoming part owner in a company.
400
A person who has a budget surplus should probably...
What is Save more
400
To pay by using borrowed money
What is Charge
400
Which one of these is a SMART goal? a) To maximize customer satisfaction. or b) To increase customer satisfaction ratings to 90% by the end of year.
What is B) To increase customer satisfaction ratings to 90% by the end of year.
400
Lack of a guarantee that you will make money or keep your entire principle
What is Risk
400
The financial tool that automatically deducts money from your bank account when you make a purchase with it is a ....
What is Debit card
500
Which of the following is a benefit of credit? a) You can end up in perpetual debt b) You can buy things you want before you can save the entire purchase price c) You can buy things you really can't afford d) You can pay interest rates of upto 18%
What is B) You can buy things you want before you can save the entire purchase price
500
Property or other valuable items that a borrower pledges as security for a loan
What is Collateral
500
You have 45 seconds to write out a SMART goal. Please be sure to use all the components of a SMART goal.
What is Answers will vary.
500
A pool of money from many people that is invested by finacial experts
What is Mutual fund
500
Mutual funds are less risky than investments in individual stocks because: a) the funds only invest in a few, very safe companies b) the funds hire expert managers or c) the funds invest in many different companies
What is C) The funds invest in many different companies
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