Credit
What is meant by debt?
debt isn’t just a simple financial transaction but a very efficient social construct used to transform personal relationships into calculated and enforceable math.
What is the difference between a tax deduction and a tax credit?
Tax credits directly reduce your tax bill. Deductions reduce how much of your income is taxes. Tax credits are better in qualifying than tax deductions.
What is Interest Income?
Income earned through interest on savings accounts, bonds, CDs, etc.
How much does texting while driving ticket increase auto insurance premiums?
516 per year
What is a interest rate?
When you borrow money, the amount you receive is called the principal. And when you pay back the loan, you repay the principal plus interest. The interest rate determines how much interest you pay.
What is Income Tax?
Taxes paid by employees to federal and state government through a direct deduction from their paycheck.
What is default risk?
probability that a bond issuer will fail to make timely interest payments or repay the principal (par value) upon maturity.
What is the disadvantage of having a higher deductible?
You will have to pay that amount out-of-pocket before the insurance company covers the repairs.
What is the difference between a traditional credit card and a predatory lender?
Higher interests or payday loans are two different types of traditional credit card where on payday loans if people are unable to use their credit cards properly.
What is Net Pay?
Total earnings after payroll taxes and other deductions have been taken out; also called take-home pay.
What is Bond Rating?
A measurement of the likelihood that a bondholder will be paid back.
What is the purpose of liability coverage on a renters insurance policy?
It covers unintended damage and accidents in the rental.
What is debt relief?
Debt relief or settlement companies are companies that say they can renegotiate, settle, or in some way change the terms of a person's debt to a creditor or debt collector.
What is Cost of Living?
The amount of money needed to sustain a certain level of living, including basic expenses such as housing, food, taxes, and healthcare; often used when comparing how expensive it is to live in one city versus another.
What is Brokerage Account?
An account that lets individual investors trade stocks, bonds, mutual funds, and other investments.
What is the disadvantage of having a higher deductible?
You will have to pay that amount out-of-pocket before the insurance company covers the repairs.
What is credit counseling?
Credit counselors are certified and in many states, licensed nonprofit advisors trained to help you take control of your finances, reduce debt and use credit responsibly. Counselors work with you to review your income, expenses and debts.
How much tax refund money went unclaimed by people who didn’t file their taxes?
$1 billion - That’s a median potential refund of $781 per person.
What is Coupon?
The annual interest payment on a bond, usually expressed as a percentage of its face value.
What is Coverage Limits?
Each coverage has a limit. If you have an accident claim covered your Allstate policy, Allstate agrees to pay for damage up to that coverage's limit.