Budgeting 101
This is what the bank gives you to spend your money in the event that you aren't carrying cash.
What is a debit card?
What is the laziest and best way to make 1 million dollars?
What is investing?
In this market, individual investors can buy equity in publicly traded companies.
What is the stock market?
This is used when you borrow money and promise to repay it at a later date. You may also owe interest on the money you borrow.
What is a credit card?
This type of account should only be used in critical situations, i.e. losing your job. Sadly, about 42% of Americans do no have this if they needed it.
What is emergency savings?
This is something you truly cannot live without.
What is a need?
These are the 2 most common accounts most Americans have in their lifetime.
What is a checking account and savings account?
Buying things without thinking about whether or not you need it.
What is Impulse Buying?
This is the money you are responsible for paying back within a specified amount of time.
What is debt?
This is a tool that can protect your family in the event of an unexpected tragedy or help leave a legacy behind for your loved ones.
What is life insurance?
This can be short, medium, or long term and can really help you be successful.
What are (financial) goals?
This account is the most traditional investment account that allows people to buy stocks and bonds.
What is a brokerage account?
The Opposite of Income.
What is an Expense?
(Blank) is the name for the least amount of money you can put toward your credit card if you have a balance.
What is the minimum payment?
This is the most commonly used retirement savings account in America!
What is a 401(K)?
These are specific, measurable, achievable, relevant, and timely.
What is are SMART goals?
This type of investment is often used by investors as an alternative to savings accounts because it is considered low risk and, often times, generates more interest.
What is a money market fund?
This is a fee placed on income, purchases, or property to support government programs.
What are taxes?
This is the highest credit score you can have.
What is 850?
Created in 1996, this section of the internal revenue code allows parents to save for their children's college expenses by utilizing a tax-advantaged investment account.
What is a Section 529?
This rule serves as a general guideline for creating your own budget.
What is the 50/30/20 rule?
Selling an investment that has made money will result in an investor paying this type of tax.
What are Capital Gains?
If you get paid, this is what you have to spend after taxes
What is net income?
What is 30%?
In any given 10 year period, what is the likelihood that an investment in the S&P 500 will yield a positive return? (Answer must be expressed as a percentage)
What is 90%?