Budgeting
The first item that you should plan for on your budget.
What is savings?
A tax on all goods or services.
What is sales tax?
The lowest amount you need to pay on a credit card every month.
What is the minimum balance? (don't only pay this)
The guarantee that a product will work as intended after purchase
What is an implied warranty?
A retirement plan where your company matches your investments.
What is a 401(k)?
Income received before taxes are taken out.
What is gross income?
Janette wants to take her family on a vacation to Orlando, Florida, where she expects to rent a car. The tax she will pay on gasoline and airline travel is this type of tax.
What is an excise tax?
What are character, capacity and capital?
What is a cease and desist order?
You invest $100,000 in Verdico Inc. ($VRD). At the end of the fiscal year, you receive $10,000 as your share of the company's profit. This is your...
What is return (or ROI)?
Car payments, loan repayments, insurance payments, rent are all examples of...
What are fixed expenses?
A salary paid 26 times per year
What is a biweekly salary?
Loans and creditcards
What are the two most popular methods of obtaining credit?
A Costco Chicken, or strangely, a PlayStation 5 at launch, for example.
What is a loss leader?
A type of bond that protects an investment from inflation.
What is an I savings bond?
A fund of about 1000 dollars in case of an unexpected event.
What is an emergency fund.
The form the bank will send you outlining all of your interest earned during the tax year.
What is a 1099-INT?
The period of time between the billing date and payment due date on a credit card.
What is the grace period?
A scheme where a person has to recruit others in order to profit
What is a pyramid scheme?
A check that has cleared a checking account.
What is a canceled check?
Chris makes $10 an hour at Target and worked 15 hours his first week of work. When he received his paycheck, he expected the amount to be $150. The amount he was able to spend was only $119.59, which is his _____ for the week.
What is net income?
Income tax, Social Security, Medicaid, 401(k) contributions, etc.
What are withholdings?
Your friend is financing a car. If she does not make her payments on time, the car will be repossessed, making the car
What is collateral?
Protects from unfair or deceptive business practices.
What is the FTC?
How banks make profit.