Insurance
You must pay this before your insurance kicks in
Deductible
When considering risk and reward, the riskier the investment, your reward/loss is
Higher
This is the highest score possible
850
This account is used for every day purchases and can be used to write checks
This term refers to borrowing a car for a fixed period, and is less expensive than owning
Leasing
The monthly cost of your insurance
Premium
Not tied to stock market, and are considered much safer as they are backed by the government
Government bonds
Transunion, Equifax, and ______ are credit reporting bureaus
Experian
This kind of account is best for an emergency fund, rather than everyday spending
Saving account
Having a larger down payment on a house can lead to a _________ amount of money owed long term
Lower
This insurance is especially important for young people, as these kinds of accidents are the number one cause of death in Americans between the ages 5-34
Auto insurance
Considered a riskier investment because you can lose all the money you put in
Individual stocks
This strategy involves paying off the balance/account with the highest interest rate
Avalanche
This kind of financial institution is for profit, and makes money through interest on loans and fees
Commercial banks
How soon does a car start losing its value after purchase?
Immediately after driving off the lot
Health insurance covers your medical bills, while this kind of insurance keeps you afloat if you need to take extended time off work
Long-term disability
You bought 1 share of a stock at $10. The stock is now worth $115. How much profit did you make?
$105
Created in 1933 to insure bank deposits up to $250,000
FDIC
This financial institution is non-profit, and returns any money made to members through reduced interest rates
Credit union
This term refers to the monthly payment for a house
Mortgage
Your medical bill is $3500. Your deductible is $1750. How much is insurance going to cover?
$1750
You bought 15 shares of a stock for $50 each. Six months later, you sold the 15 shares for $20 each. How much money did you lose?
$450
This strategy involves paying off the lowest balance across all accounts
Snowball
This term refers to property the bank can seize if you do not pay off your debts
Collateral
Depreciation