Chapter 1
Chapter 2
Chapter 3
Chapter 4
Rule of 72
100
S-Specific M-Measureable A-Achievable R-Realistic T-Timely
What does SMART stand for?
100
Expense that fluctuates in amount so you have more control over how much it will be
What is Fixed Expense?
100
what people do to meet short-term goals
What is saving?
100
-allows you to repay many of your debts over a period of time -allows you to erase most of your debt
What is Chapter 13 Bankruptcy? And Chapter 7 Bankruptcy?
100
8
Year 4
200
S-I want to be living in a warmer, dryer climate, away from noisy traffic. M- The Location of the house will be in the countryside. A-Yes, there are locations and will be able to fit my budget. R- Yes, I know others that have done it. T- 9 months from today.
What is an example of a SMART goal?
200
Expense that you don’t pay every month. Can be fixed or variable
What is Variable Expense?
200
buy stocks or bonds: to use money to buy or participate in a business enterprise that offers the possibility of profit, especially by buying stocks or bonds
What is investing?
200
-maximum amount of credit a lender will extend to a customer -length of time you have before you start accumulating interest
What is Credit Limit? What is Grace Period?
200
24
Year 12
300
1.Short-term goals: Goals that I’ll try to reach within one day to three months 2.Medium-term goals: Goals that I’ll try to reach within four months to one year 3.Long-term goals: Goals that I’ll try to reach in more than one year…up to a lifetime
What is Short, Intermediate, Long term goals?
300
Expense that cost the same amount every time
What is Periodic Expense?
300
rise in the cost of goods and services over time
What is Inflation?
300
By paying the total amount that is due not just $50 but the whole $1000
What would happen if you avoid paying interest on a credit card?
300
18
Year 9
400
Can make more money over a period of time.
What is the advantages of mutual funds?
400
Periodic
What is Groceries is it Fixed, Variable, or Periodic?
400
setting aside money for longer-term goals
What is Dollar Cost Averaging?
400
character -Character refers to the financial history of the borrower Ex:• Late payments • Delinquent accounts • Available credit • Total debt capacity - refers to the ability of the business to generate revenues in order to pay back the loan capital- Capital refers to the capital assets of the business collateral- is the cash and assets a business owner pledges to secure a loan
What is the four C's and there meaning?
400
5
10
500
A=P(1+r/n)nt
What is the Compound Interest Formula?
500
Fixed
What is Rent Fixed Variable or Periodic
500
reducing investment risk by putting money in several different types of investments
What is Diversification?
500
Risk- Identify Theft Reward- Having money to get things you need
What are risks and rewards of credit?
500
6
Year 15
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