Banking
This type of account is connected to your debit card
Checking account
This category includes things like soybeans, oil or gold
Commodities
The amount borrowed by someone for a loan
principal
A record of how you've managed loans and payments over time
Credit Report
This date is the typical deadline for Americans to file their taxes
April 15
Money borrowed from a bank that must be paid back with interest
A loan
This stock market index represents 500 of the largest companies listed on stock exchanges in the United States
S&P500
The amount of a loan you pay back that is exceeds the original amount you borrowed
The percentage of available credit you are using
Credit utilization
Employees receive this form each January that summarizes their earnings and taxes for the previous year
W-2
An insurance company that will cover up to 250,000 of your deposits
FDIC
This is a passively managed fund with low fees that tracks an index
ETF
An initial payment made when buying something expensive, such as a car or house
Down payment
This strategy for debt repayment starts with the highest interest-rate debts
Avalanche / high-rate method
Fill this form out when you start a new job to determine how much your employer withholds in taxes
W-4
Credit union or online bank
This is an actively managed fund with higher fees containing a portfolio of hand selected stocks, bonds, etc.
Mutual Fund
The lowest amount you can pay on your monthly credit card bill to remain in good standing
This strategy for debt repayment focuses on the smallest balance first
What is the purpose of paying taxes?
Fund the government
A banking product that holds a specific amount of money for a specified amount of time. You would get a higher interest rate for this.
CD
This strategy involves spreading investments across different assets to reduce risk
diversification
Extending the term of a loan will tend to do this
Increase the amount of interest you pay
If you realize you are not going to be able to make a payment on your debt, what should you do?
Contact the lender
What agency collects federal income tax?
IRS