Insurance
this type of insurance helps pay for doctor visits, hospital stays, and prescriptions
what is health insurance?
this card uses money directly from your checking account
$100: what is a debit card?
this is money borrowed that must be paid back
$100: what is a loan?
this is money collected by the government to fund public services
$100: what are taxes?
this is a plan for how you will spend and save money
$100: what is a budget?
this insurance is required in most states if you own a car
$200: what is auto (car) insurance?
this number represents how trustworthy you are as a borrower
$200: what is a credit score?
this is the cost of borrowing money
$200: what is interest?
this tax is taken directly out of your paycheck
$200: what is income tax?
this budgeting rule suggests spending 50% on needs, 30% on wants, and 20% on savings
$200: what is the 50/30/20 rule?
this term describes the amount you pay out of pocket before insurance starts covering costs
$300: what is a deductible?
this happens when you don’t pay your credit card bill by the due date
$300: what is a late payment?
this type of interest is calculated only on the original loan amount
$300: what is simple interest?
this form reports your annual earnings from an employer
$300: what is a w-2 form?
this category includes rent, utilities, and insurance
$300: what are fixed expenses?
this type of insurance helps replace income if you’re unable to work due to injury or illness
$400: what is disability insurance?
this fee is charged when you carry a balance on a credit card
$400: what is interest?
this type of interest is calculated on both the principal and accumulated interest
$400: what is compound interest?
this tax is added to the price of most goods and services
$400: what is sales tax?
this is money set aside for unexpected expenses
$400: what is an emergency fund?
this insurance helps protect your family financially after your death
$500: what is life insurance?
this ratio compares how much credit you’re using to how much you have available
$500: what is credit utilization ratio?
this loan is commonly used to pay for college or university expenses
$500: what is a student loan?
this filing status applies to someone who is unmarried and has no dependents
$500: what is single filing status?
this budgeting method gives every dollar a specific job
$500: what is zero-based budgeting?