Invest
What does APR stands for?
Annual Percentage Rate
What does repo stands for?
Repurchase agreement
According to the budget rule how much of your earnings should you invest?
You should invest 20%.
According to the budget rule we should invest 30% on what category?
The "wants" category.
An example of positive credit card use.
Pay balance in full
Pay before due date
The ---budget rule recommends splitting your income into three categories.
50-30-20
Give three examples of good debt
Borrowing to finance your education
Borrowing to purchase property
Borrowing to purchase business assets
The Snowball method
A plastic card that is electronically connected to the cardholder's bank account.
A debit card
A credit facility provided by a bank that comes with a pre-approved credit limit.
A credit card
Skills & certifications; targeted side income, negotiate pay; charge for expertise, turn hobbies into businesses (track taxes & costs) Are all ways to---------
Grow your income
What is commonly considered a flexible expense? 1.rent 2.a mortgage payment 3.home insurance 4.entertainment 5. credit card payment
4.entertainment
State two financial institution where you can open an investment account
NCB Capital Market
JMMB Money Market Brokers
Barita Investment
Mayberry
Sagicor Investments
Name one way in which you can avoid debt
Spend less than you earn
Which investment portfolio allows you to earn dividends
Stocks
What type of investment involves lending money to the government
A bond
What is a good precaution to take when investing?
Don’t invest in just one company, spread the love around to other companies.
To build an emergency fund how many months of savings to cover your expenses is recommended.
The recommended amount is 3-6 months.
Which debt repayment strategy prioritizes paying off debt with the highest interest rate first?
The avalanche method
True or False as a local can you invest in the international portfolios
True
What does Warren Buffet Rule number 1 & 2 state?
Rule 1: Never Lose Money
Rule 2: Never Forget Rule No. 1
State one insurance tip
Match coverage to risk
Avoid underinsurance; review annually
Name four companies that are traded on the Jamaica stock exchange
TransJamaican Highway
Grace Kennedy
Lasco Manufacturing
Jamaica Public Service Company
Mayberry Investment
Dolphin Cove
The Jamaica Stock Exchange
Wigton
State the famous Jamaican Proverb mentioned in the Secure the Bag Financial presentation
Every Mickle make a muckle
Name one famous Investor
Warren Buffett