Financial Future
What do you no longer have when you retire?
Steady source income from a job
This type of bank account lets you deposit and withdraw money frequently and usually comes with a debit card
Checking Account
What does FAFSA stand for?
Free Application for Federal Student Aid
What is Miss Sullivan's favorite example of a need for an emergency fund?
Broken refrigerator
The initial payment you make when purchasing an expensive product using credit, such as a house or a car
Down Payment
About how much money should you have saved in your emergency fund?
enough to live 6 months
The service where employers electronically send your paycheck straight into your account is called what?
Direct Deposit
a sum of money given by a government or other organization for a particular purpose. Not to be paid back.
Grant
Assets such as stocks and bonds that you purchase with the expectation of making a profit in the future
Investment
the total amount of money that you owe to other people and businesses
Debt
What is the difference between a debit and credit card?
Debit card takes money right form your account, credit card pays it in advance
What are items that you own that have value, such as a house, car, stocks, bonds, or the amount of money you have.
Assets
An estimated cost (tuition, room, board, fees) and a list of grants, scholarships, and loans you are eligible for
financial aid package
A type of investment that gives you a share of ownership in a company and can potentially earn you profits if the company's value increases
stocks
A percentage of the total value of your home that you pay to your local government every year
Property Tax
What are two types of retirement funds?
Individual Retirement Account, 410(k)
True or False: You can easily transfer money from your checking account to your savings account
TRUE
A loan that the you get from the government that pays the interest while you are in school?
subsidized direct loan
A type of investment in which a group of people pools their money together to invest in a variety of stocks, bonds, and other assets
Mutual Fund
Provides part time jobs for students with financial need to earn money to help pay for educational expenses.
Federal Work Study
You are moving to a new city and just found your dream home on a real estate website. However, it is out of your price range, and you only have enough money saved up for a 5% down payment. As a result, you will need to pay an additional $100 per month in addition to an expensive monthly bill. Should you rent an apartment or buy this home?
Rent an Apartment
write the date
True or False: Any job you have when you are a student can be considered a work study
FALSE
The accumulation of valuable assets throughout one's life, such as money, property, or investments
Wealth
_______ refer to the amount of money spent on the purchase of goods and services?
expenses