It is the spreading of risk among many types of investments.
What is diversification?
It is the FULL name of the agency of the government that exists to collect income taxes and to enforce tax laws.
What is the Internal Revenue Service? (IRS)
In the 50/30/20 budgeting plan, this is what 50% of a person’s income is spent on.
What are needs?
This is property pledged to assure repayment of loan.
What is collateral?
This type of loan, offered by the federal government, pays interest on your loan while you are attending school or during your grace period.
What are subsidized loans?
These are natural physical or mental abilities that allows you to do certain tasks remarkably well.
What are talents?
It is someone who purchases stocks and other securities with the intention of selling those investments in the near future to make a capital gain from the sale.
What are traders?
This person/body/board has the power to levy taxes in the United States of America.
Who is Congress?
This individual's budgeting technique was studied in class this semester.
Who is Dave Ramsey?
A FICO score will range anywhere between these two numbers.
What ae 300 and 850?
This type of car insurance, which pays for damage to other vehicles if you are at fault, is required by law in most states.
What is liability insurance?
In a S.M.A.R.T. goal, this is what the “M” stand for.
What is measurable?
It is the regulatory body charged with overseeing the U.S. stock markets.
What is the Securities and Exchange Commission (SEC)?
These are the different tax rate groups that are applied to the income ranges of United States citizens in a progressive tax system.
What are tax brackets?
This tool, either digital or with pen and paper, tracks where your money is being spent each month.
What is a spending log?
This is what the acronym FICO stands for.
What is the Fair Isaac Corporation (or Company)?
The standard repayment option for federal student loans defaults to paying off your student loan debt in this many years.
What is 10 years?
This term is used to describe the forecast of the anticipated change in a particular occupation.
What is job outlook?
There are two types of IRAs that allow a person to choose when taxes are paid on the money. This man (Full name) is responsible for creating the one where money is pulled out of the IRA tax free.
Who is William (Bill) Roth?
It is the authorizing of stock voting rights to someone else.
What is proxy?
This is the name of the form that must be completed in order to itemize federal taxes.
What is a Schedule A?
This technique for paying off debt involves listing debts from smallest to largest and paying off the lowest balance first, regardless of interest rates.
What is the debt snowball?
This form of bankruptcy involves selling off most assets in order to wipe out nearly all debts.
What is Chapter 7 Bankruptcy (Liquidation)?
During the home buying process, this is the individual you speak with to ensure you are pre-approved for a loan.
What is a loan officer?
This is defined as money offered to encourage employees to strive for higher levels of performance.
What is incentive pay?
These are stocks that do well when the economy is stable or growing but do poorly during recession. Examples include: airlines, resorts, etc..
What are cyclical stocks?
This is the standard deduction amount for a married couple in the 2023 tax year.
What is $27,700? ($13,850 for a Single Taxpayer)
This action is considered “Baby Step 3” of the Ramsey budgeting plan.
What is save 3-6 months worth of expenses for an emergency fund.
Of the 5 categories that make up a credit score, this category makes up the 2nd largest portion of the score.
What is amount owed (balances)?
In order to receive Federal Student Aid, students must fill out the FAFSA form… this is what the acronym FAFSA stands for.
What is the Free Application for Federal Student Aid?
These are the 5 main parts of a typical cover letter.
What are the return address, letter address, salutation, body, and complimentary close?
This is the alias given to the person responsible for inventing Bitcoin.
Who is Satoshi Nakamoto?
This is the name(s) of the couple(s)/individual(s) that itemized their taxes during our assignments.
Who is Diego Rodriguez?
According to a Sports Illustrated article, this percentage of football players are bankrupt or are under financial stress within 2 years of retirement.
What is 78%
These are the 4 “C”s of creditworthiness.
What are character, capacity, credit history, and collateral?
According to the 2 cents video, this is the amount (percentage) that cars depreciate in the first 5 years.
What is 63%?
This is the name of the individual that had a "poor interview" example from the videos we watched.
Who is Bobby Frasier?