Getting Paid
What are "employee benefits?"
Define premium
What is "the monthly cost to maintain your insurance?"
What is a bond?
A bond is a loan to a company that pays interest.
This is insurance covering doctor's bills, vaccines and other medical expenses.
What is "health insurance?"
One of the reasons Mr. Joy should cook more meals rather than eating out.
What is "saving money on food?"
This is why college is worth the money.
What is "higher average lifetime earning?"
Define "deductible"
What is the "money you must pay after filing a claim before your insurance company will pay your expenses?"
What is a stock?
A stock is a partial ownership share of a company that pays a dividend if the company is profitable.
This is insurance providing benefits to your loved ones after you die.
What is "life insurance?"
Two reasons why Mr. Joy should take the bus instead of driving his car to work
What is "saving money on gas, less maintenance, and less emergency repairs?"
Mr. Joy faces scarcity everyday: he doesn't have enough time and money to accomplish everything he wants. Because of this, he needs to make _______, giving up one thing in favor of another.
What is "tradeoffs"?
This is a loan backed by collateral, meaning that the collateral put up by the loan recipient can be taken by the bank if the loan is not paid on time.
What is "a secured loan?"
What is a certificate of deposit?
A type of savings account with a high rate of interest while not allowing you to take out (withdraw) your money until the maturity date.
This is the type of insurance that pays for damages to others (others' bodies, others' cars, others' houses).
What is "liability insurance?"
These are two reasons Mr. Joy should have a roommate rather than living alone
What is "saving money on rent, WIFI, utilities, and having someone to keep him company?"
Name four costs associated with owning a car.
What is fiscal policy?
The federal government (Congress') use of taxing and spending to create jobs and grow the economy.
What is a 401k with employer matching?
A retirement account set up by your employer where every dollar you contribute is matched by a dollar from your employer. It's free money!
This is the insurance that provides for lost income/wages when you are unable to work.
What is "disability insurance?"
This is one of the reasons Mr. Joy should make more than the minimum payment on his student loan.
What is "$70,500"?
What is monetary policy?
The Federal Reserve's setting of interest rates to stop inflation.
What is a supply curve?
A curve showing the number of producers willing to sell a certain product at every price point.
This insurance provides for a nurse to watch over you for months or years at a time.
What is "long-term care insurance?
This is why Mr. Joy should start saving money now rather than later.
What is "compounding interest or more time for his money to grow?"