Credit
The smallest amount you can pay each month to keep your credit in good standing is called the
Minimum payment
A ________ expense can change month to month, but a ________ expense costs the same amount every month
Variable, Fixed
A ________ allows employees to save for retirement with pre-tax dollars. Employers will sometimes match your contributions
401(k) plan
________ insurance provides financial support if you are unable to work due to an illness or injury
Disability
As ________ increases, the purchasing power of the dollar decreases, which impacts how much you can buy in goods and services
Inflation
Amanda took out a ____________, which has an interest rate that changes based on the market. As a result, her monthly payments may change.
Variable-rate loan
When deciding where to live, it's a good idea to look at an area's _________ to understand how expensive it might be to live there
Attending conferences, connecting with professionals in your field, and maintaining an online presence can all help you with ________
Networking
If your car is damaged in an accident with another vehicle ________ helps cover the repair costs
Collision coverage
As an investor, when you purchase a(n) _______ from a company, you are lending the company money which it promises to repay with interest by a certain date
The process of paying off debt in regular installments over a period of time is known as
amortization
Identify 2 fixed costs and 2 variable costs associated with owning a car
Fixed: Insurance, License/registration fees, monthly payment if you leased or financed the vehicle.
Variable: Gas, maintenance, tolls/tickets
When starting a new job, you fill out a(n) ________ to determine how much federal income tax your employer should withhold from your paycheck
W-4 form
If Tom's health expenses exceed his _____________, his insurance will cover all additional costs for the rest of the year
Out of pocket maximum
When a company makes a profit, it may choose to pay part of those profits back to its shareholders in the form of a(n) ________
Dividend
Experian, one of the three major ____________, collects and maintains individual credit information and provides it to lenders who need to make lending decisions
Credit bureaus
________ is a strategy where individuals prioritize saving by putting a portion of their income into savings before paying other expenses
Pay yourself first
List what each letter of the STAR method stands for
Situation
Task
Action
Result
Emily was relieved that her ________________ would cover the repairs to her car after it was damaged by a hailstorm
Comprehensive coverage
A retirement savings option that automatically adjusts the asset mix as your retirement date approaches is known as a(n) _______________
Target date fund (TDF)
The ________________ is a government agency that ensures banks, lenders, and other financial companies treat you fairly
Consumer Financial Protection Bureau (CFPB)
When signing a lease for an apartment, what fees can you expect to pay? (give at least two)
Security deposit, application fee, first & last months rent, possibly pet fees, possibly broker's fee, possibly move-in/administrative fees
On her first day at a new job, Emily brought her passport and driver's license to complete the ________ for employment eligibility verification
I-9 Form
Harvey bought _______________ pet insurance because he wants coverage in case his cat gets sick or hurt
accident & illness
Identify three things that can impact the price of a stock
1. Supply & Demand
2. News about the company (executives leaving/being hired, strategy changes, new products, etc)
3. Anticipation about upcoming events (changes in legislation, regulations, natural disasters, wars, etc)
4. Stock splits (Does not change the value of the company but impacts the price of each share of stock)