Insurance
The amount of money available to be borrowed by an individual or a company. It must be paid back to the lender at some point in the future.
What is credit?
These expenses are the same every time.
What are Fixed Expenses
This Tax form is used to determine the amount of income tax owed to the IRS in a single year.
What is the 1040 Tax Form?
The amount you pay before you can use/claim your insurance
What a deductible (Auto, Homeowners) and Co-Pay (Health)
Money used to be given to a named beneficiary after someone's death or after they reach a certain age.
What is life insurance?
A number based on your credit reports that display whether you are creditworthy or not.
What is a credit score?
This is provided to you by your employer, and it lists total income and all tax withheld amounts
What is the W2 form?
These taxes charged on any profit you make from selling something at a higher price than you bought it. They are usually from the sale of stocks, bonds, or property.
What is a capital gains tax?
Your auto insurance policy has a $200 monthly premium and $700 deductible. What is the maximum amount you will have to pay out-of-pocket for a car accident before your insurance covers your costs?
What is $700?
Car/Automobile insurance
What is insurance against loss due to theft or traffic accidents?
You can stay on your parent's health insurance until you are how old?
26 years old
Total amount of money that you make before subtracting expenses and taxes.
What is gross income?
A tax used to pay for the retirement, disability, and survivorship benefits received by millions of Americans each year.
what is Social Security Tax
The higher your deductible, the ____ your premium
What is Lower
Any damages in the house or if something gets stolen.
What does home owners insurance cover?
A gentleman is injured at work at a construction site. He will not be able to work for two months. What insurance supports his injury?
Disability
This tax is used by the federal government to provide many services including a wide variety of public and social services that would probably not otherwise exist. They are typically collected the year after they are earned
What is Income Tax used for?
Your monthly, quarterly or annual fee, bill or money paid to the insurer to be covered under the terms of the insurance agreement. These must be paid in order for your insurance to remain in effect
What is the premium?
There is a difference between these types of insurance for where you live in that one only covers internal damages versus the other that covers all damages even structural.
What is renters insurance and homeowners insurance?
What is the five C's of credit?
Character Capacity Capital Collateral Conditions
Something you own, includes cash, savings accounts and personal property.
What is an asset?
This form reports interest income earned on a savings account
What is the 1099INT?
A budget
What is an estimate of costs, revenues, and resources over a specified period, reflecting a reading of future financial conditions and goals?