DocMatr
What step of the decision making process is "Reevaluate your decision"?
Step 6
Who fills out the W-4 form?
The employee
A spending and saving plan based on your expected income and expenses.
Budget
The initial amount of money borrowed.
Principal
A snap shot of how financial responsible you are.
Credit Score
What step of the decision making process is "Define the problem"?
Step 1
What is a Premium?
The amount of money you pay regularly to an insurance company to keep your policy active and receive coverage.
Costs that do not change from month to month.
Fixed Expenses
A form of federal financial aid where you do not begin paying until you are finished with school.
Subsidized Loan
What is the credit score range?
300-850
What step in the decision making process is "Take Action"
Step 5
What are the 3 types of retirement plans we talked about in class?
401k, 403b, Pension
What is it called when your income outweighs expenses?
Cash Surplus
What is the measure of how quickly you can get your cash without the loss of value?
Liquidity
What is the use of someone else's money, borrowed now with the agreement to pay it back later.
Credit
What step in the decision making process is "Obtain Information"?
Step 2
Pay before deductions
Gross Pay
Assets
The date at which an investment becomes due for payment.
Maturity Date
Who may want to see your credit score?
Banks, landlords, employers, car dealerships
What step in the decision making process is "Compare choices"?
Step 3
Pay after deductions
Net Pay
What is the equation for net worth?
Assets - liabilities
Give me 3 examples of long term needs
Home Ownership, Education, Retirement
A pre-established amount that can be borrowed on demand with no collateral.
Line of credit