Personal finance
A personalized spending plan that acts as a financial roadmap, balancing your income against expenses over a specific period (usually monthly) to help you control spending, pay bills, and save for goals.
What is a budget?
How can you own a tiny piece of a large public company?
By buying stock in that company
True or false, the only way to make money is to have a job
False. You can have a business or being an investor
something, typically money, that is owed or due
Debt
A percentage paid to a lender for the use of borrowed money is called
Interest
What does ATM stand for?
Automated Teller Machine
A financial arrangement where a lender provides a sum of money (the principal) to a borrower, who agrees to repay it—usually with interest—over a set period
What is a loan?
Designed for holding money you don't plan to spend immediately
savings account
If you’re borrowing money to finance your business and you want to know how much interest you’ll pay on it in a year, look for the APR. What is APR an acronym for?
Annual Percentage Rate
Account that is ideal for everyday transactions
Checking Account
A payment card issued by banks or financial institutions that allows you to borrow funds up to a pre-approved limit to purchase goods, services, or get cash advances.
What is a credit card?
What is a savings and / or investment option for people with disabilities who qualify that allows them to save more than $2,000?
An ABLE account
The degree of uncertainty on how likely the investor is to make money on an investment
Risk
A fixed-income security that represents a loan made by an investor to a borrower (typically corporate or governmental).
A bond
A type of account that has a higher interest rate and a set amount of time that the money stays in the account.
What is a certificate of deposit (CD)?
What does FDIC Insured mean?
The federal government will repay your deposits of up to $250,000 if the bank fails.
What has historically had the highest rate of return over long periods of time?
Stocks
A loan taken by individuals and businesses to make real estate purchases without paying the entire value of the purchase up front
Mortgage
A financial contract—a policy—where an individual or entity pays a fee (premium) to a company in exchange for protection against potential financial losses or damages.
What is insurance?