An employer sponsored retirement plan that automatically takes out money from an employee's paycheck before income taxes and invests it in mutual funds for the purpose of retirement.
What is a 401K?
100
Payments made regularly to an ex-spouse after divorce that can be deducted as an adjustment to income
What is Alimony?
100
An arrangement to receive cash, goods, or services now and pay for them later
What is Credit?
100
Dishonest behavior practices that are meant to deceive, trick or gain an unfair advantage
What is Fraud?
100
A form of security to help guarantee that the creditor will be repaid
What is Collateral?
200
A review of your taxes by the IRS?
What is an Audit?
200
The fair market value of property and the amount of cash contributed to qualified charities may be claimed as a tax deduction
What is a Charitable Contribution?
200
The maximum amount of money a creditor will allow a credit user to borrow
What is Line of Credit?
200
Purchasing an item at the spur of the moment
What is Impulse Buying?
200
Taxes that fund Social Security and Medicare
What is FICA?
300
A way to file a federal tax return electronically and provide income tax returns more quickly
What is E-Filing?
300
Profit earned from the sale of an asset
What is Capital Gain?
300
The cost of credit on a yearly basis, expressed as a percentage
What is Annual Percentage Rate (APR)?
300
A partial refund of the price or purchase
What is a Refund?
300
A portion of the total cost of an item that must be paid at the time of the purchase
What is Down Payment?
400
Used to provide medical benefits for certain individuals when they reach age 65
What is Medicare Tax?
400
Money received for work performed; may include salary, wages, tips, professional fees, commissions
What is Earned Income?
400
A time period during which no finance charges will be added to your account
What is Grace Period?
400
A labeling method that indicates the freshness of a perishable product
What is Open Date?
400
The smallest amount you can pay and remain a borrower in good standing
What is Minimum Monthly Payment?
500
You contribute pre-tax dollars to the account for expected medical expenses for the coming year - often set up through your employer
What is a Health Savings Account?
500
Savings plans with tax benefits and special restrictions
What is an Individual Retirement Accounts (IRA)?
500
A measure of a person's ability and willingness to make credit payments on time
What is your Credit Rating / Credit Score?
500
A written guarantee from the manufacturer or distributor that states the conditions under which the product can be returned, replaced, or repaired
What is Service Contract?
500
An individual's total personal income before taking taxes or deductions into account