Banking
Two main types of interest.
What is Compound and Simple interest?
Psychological phenomenon where the pain of a loss is felt stronger than the pleasure of an equal gain.
What is loss aversion?
Credit scale range.
What is 300-850?
The name of what you pay before an insurance company pays a claim.
What is Deductible?
Buying shares in a company means you own this.
What is stocks
This federal organization insures bank deposits up to $250,000.
What is the fdic
The 50/30/20 rule says 20% of your income should go to this.
What is savings or debt repayment
Valuable asset a borrower pledges to a lender to secure a loan or line of credit.
What is Collateral?
You pay this amount out-of-pocket before your insurance kicks in.
What is a deductible
This type of fund pools money from investors to buy a diversified set of assets.
What is a mutual fund
What is an Overdraft fee
This budgeting method gives every dollar a job.
What is zero based budgeting
This type of credit lets you borrow up to a certain limit repeatedly.
What is revolving credit
This insurance protects against car accidents.
What is auto insurance
This term describes spreading investments across many types of assets
What is diversification?
Transferring money electronically between banks is called this.
What is an EFT
Expenses that vary month to month are called this.
Why are variable expenses
This report includes your credit history and is reviewed by lenders.
What is a credit report
This insurance provides income if you can’t work due to injury
What is a disability insurance
This is the return on an investment expressed as a percentage.
What is roi
This is the rate banks charge each other for overnight loans.
What is the federal funds rate
This tool helps track your spending by categorizing expenses automatically
What is a budgeting app
This is the percentage of your available credit you’re using.
what is credit utilization
This type of insurance protects your assets from lawsuits.
What is liability insurance
This type of IRA uses after-tax dollars but allows for tax-free withdrawals in retirement.
What is a Roth IRA?