Financial Institutions
This type of account allows you to withdraw money directly from it with a debit card in order to purchase things.
What is a checking account?
This type of insurance is most appropriate for a single, working, 24-year-old who owns a house.
What is Health insurance, Homeowners insurance, or Auto insurance?
An interest rate that could change at a moment's notice throughout the duration of the loan contract is known as this.
What is a variable interest rate?
Sally owns a gas station. She willpay this tax on the land that the gas station is on.
What is property tax?
You should have this many moths worth of bill and payments in your savings account at all times.
What is 6 months?
This type of institution gives advances on paychecks.
What is a payday loan?
This type of insurance covers doctor visits.
What is medical insurance?
This type of interest is going to be better for your savings in the long run.
What is compound interest?
Jose has to pay taxes on the money from his annual earnings. This is this type of tax.
What is income tax?
You should avoid these as much as possible.
What are loans or credit cards?
These people own a credit union.
What are members?
Adam falls and breaks his leg at work. He needs this type of insurance.
What is disability insurance?
This type of interest is best when you want to take out a loan.
What is simple interest?
Jared bought a new boat. He paid this kind of tax on his new boat.
What is sales tax?
This model helps you make decisions in a logical manner.
What is the rational decision making model?
Financial intermediary is typically an institution that facilitates the channeling of funds between lenders and borrowers indirectly.
What is a financial institution?
Phillip burns his hand on your grill. This isurance helps to protect you.
What is homeowners insurance.
This type of card is a loan in which the lender will charge you interest if you do not pay off the balance each month.
What is a credit card?
The action of taking possession of property when you do not pay for it.
What is forclosure?
These should be the first things in your budget.
What are bills and necessities?
Banks make revenue by charging borrowers a higher rate in interest than they are paying to depositors. This is called the ___________.
What is the "spread".
Mold destroys most of your clothes in your rented apartment. This insurance will be used to replace them.
What is renters insurance?
Simple interest is paid on the principal only, while compound interest is paid on the principal and interest accrued over time.
What is the difference between simple and compound iterest?
Jenny is a teacher; she earns a monthly income of $4,500.This is how much will she earn in one year.
What is $54,000?
You need a loan. Never go to this finicial institution.
What is payday loan or title loan?