BANKING
Of checking and savings, this account usually pays the higher interest rate
What is a savings account?
A market with falling prices and pessimistic investors is named for this animal
What is a bear market?
Spreading your money across stocks, bonds, and cash instead of one place
What is diversification?
Car price $15,000 minus a $3,000 down payment equals this loan principal
What is $12,000?
Paying an extra $100 a month on a car loan does this to your payoff date
What is makes it sooner (pays it off faster)?
Earning interest on your interest, which grows faster the earlier you deposit
What is compound interest?
A company raises $400,000 by issuing 8,000 shares, so each share is worth this much
What is $50?
Sam invests $100 a month. The price is $20, then $10. After two months he owns this many shares
What is 15 shares?
A loan backed by collateral, like a mortgage or car loan
What is a secured loan?
As an amortized loan goes on, this part of each payment shrinks while the principal part grows
What is interest?
This fee is charged when you take out more money than your account has
What is an overdraft fee?
Share price times the number of shares gives this measure of a company's total value
What is market cap (market capitalization)?
Getting your employer's full 401(k) match is smart because it is basically this
What is free money?
Riley owns $12,200 and owes $6,350, so Riley's net worth is this
What is $5,850?
A longer loan term lowers the monthly payment but does this to total interest
What is raises (increases) it?
On a $1,000 paycheck, the 50/30/20 rule puts this much toward savings
What is $200?
After a 3-for-1 stock split, a share that was worth $90 is worth about this
What is $30?
This account lets you pay taxes now and withdraw tax-free in retirement
What is a Roth IRA?
A card with a 24% APR charges this much interest per month
What is 2%?
Your credit report shows your payment history, but this popular number is NOT on it
What is your credit score?
Moving money to savings the moment you get paid, before spending on anything else
What is Pay Yourself First?
When market interest rates fall, the price of an existing higher-rate bond usually does this
What is goes up (rises)?
A 401(k) is just the bucket. You still have to choose these to put inside
What are investments (like index funds)?
Pay your full balance by the due date and you pay no interest on new purchases, thanks to this
What is the grace period?
These three companies are the ones you contact to dispute a credit report error
What are Experian, Equifax, and TransUnion?