Education and Financial Aid
FAFSA stands for _______
Free Application for Federal Student Aid
Short-term, flexible work where people are paid per task or project instead of having a permanent, full-time job is called _______.
Gig work
Money borrowed to pay for education that you must repay with interest.
Student Loans
The cost of a single unit of measurement—such as an ounce, pound, liter, which allows you to easily compare the real value of different products and package sizes
Unit Price
A financial plan that tracks how much money you expect to make and spend over a specific period of time
Budget
An award of financial aid (money) given to help a student pay for their education.
Scholarship
Health insurance, paid time off (PTO), retirement plans, and tuition reimbursement are all examples of _______.
Work place benefits
Personal loans, credit cards, or student loans are examples of ______
Unsecured Loans
A goal that you plan to accomplish in 5 years or more
Long term goal
Plastic or digital payment card linked directly to your checking account
Debit Card
Part-time work opportunity through a financial-aid program.
Work-study Program
A profession, occupation, trade, or vocation is called a ________.
Career
Short term loan meant to tide you over until your next paycheck. Usually must pay loan back within 2 to 4 weeks.
Payday Loan
Budget method in which you split your income into needs/wants/savings.
50/30/20 Budget Method
What is in the bottom left hand corner of a check?
Memo or what the check is for
Workplace benefit that pays you for your time away from work.
PTO (Paid Time Off)
Type of loan that requires collateral in order for the borrower to receive the loan
Secured Loan
Fee charged by a bank in order to keep a checking or savings account open.
Maintenance Fee
Budgeting method where you automate your fixed expenses and your savings. You then spend the remaining balance freely without tracking daily purchases
No Budget Method
Need based financial aid (money) given to students to help pay for their education.
Grants
Baby-sitting, dog-walking, Uber driving are examples of ____.
Gig work/jobs
A valuable asset—like a car or a house—that a borrower promises to give to a lender if they fail to repay a loan
Collateral
What type of taxes are used by retired people as income and also for people with disabilities?
Social Security Tax
Reduces the amount of income that can be taxed. It is subtracted from your total income.
Tax Deduction