ALL ABOUT MY MONEY
THE U.S MONEY IS CALLED.......
FIAT MONEY
AN ESTIMATE OF INCOME AND EXPENDITURE FOR A SET PERIOD OF TIME.
WHAT IS ........
BUDGET
THIS IS THE ABILITY TO BORROW MONEY NOW AND REPAY IT LATER WITH INTEREST.
WHAT IS ..........
CREDIT
THE MONTHLY OR ANNUAL AMOUNT YOU PAY TO KEEP YOUR INSURANCE POLICY ACTIVE.
WHAT IS ...........
PREMIUM
THE U.S. AGENCY THAT INSURES BANK DEPOSITS UP TO $250,000.
WHAT IS ...........
FDIC
THIS TYPE OF INVESTMENT REPRESENTS OWNERSHIP IN A COMPANY AND MAY PAY DIVIDENDS.
WHAT IS......
A STOCK
THIS IS THE TIME THAT IS WORKED BEYOND REGULAR HOURS.
WHAT IS .........
OVERTIME
MONEY THAT GOES INTO SAVINGS BEFORE YOU SPEND ANYTHING. (HINT: THIS THE 50/30/20 RULE).
WHAT IS ........
PAY YOURSELF FIRST
WHAT DOES BNPL MEANS?
WHAT IS ...........
BUY NOW PAY LATER
A FLAT FEE YOU PAY AT THE DOCTOR'S OFFICE, COMMON IN MANY HEALTH INSURANCE PLANS.
WHAT IS .........
CO-PAY
THESE MEMBER-OWNED FINANCIAL COOPERATIVE OFTEN OFFER LOWER RATES THAN TRADITIONAL BANKS.
WHAT IS ..........
CREDIT UNIONS
THIS STRATEGY INVOLVES SPREADING INVESTMENTS ACROSS DIFFERENT ASSETS TO REDUCE RISK.
WHAT IS .........
DIVERSIFICATION
INFLATION
FINANCIAL EXPERTS RECOMMEND SAVING 3 TO 6 MONTHS OF EXPENSES IN THIS SPECIFIC FUND.
WHAT IS ...........
EMERGENCY FUND
THIS REPORT ISSUED BY AGENCIES LIKE EQUIFAX, SUMMARIZES YOUR CREDIT HISTORY.
WHAT IS........
CREDIT REPORT
THE AMOUNT YOU MUST PAY OUT OF POCKET BEFORE THE INSURANCE COMPANY PAYS A CLAIM.
WHAT IS .......
DEDUCTIBLE
A DEBT INSTRUMENT WHERE YOU LOAN MONEY TO A GOVERNMENT OR CORPORATION FOR A SET PERIOD.
WHAT IS ..........
A BOND
THE INTERNAL REVENUE SERVICE, BUREAU OF ENGRAVING AND PRINTING, AND U.S. MINT ARE ALL UNDER ........
U.S. DEPARTMENT OF THE TREASURY
EXPENSES THAT STAY THE SAME EVERY MONTH, SUCH AS RENT OR CAR PAYMENT.
WHAT IS .........
FIXED EXPENSE
THIS TYPE OF LOAN REQUIRE EQUAL PAYMENTS OVER TIME.
WHAT IS ..........
INSTALLMENT LOAN
THIS TYPE OF INSURANCE COVERS YOU FOR A SPECIFIC PERIOD. (HINT: IT COULD BE 10 OR 20 YEARS).
WHAT IS ..........
TERM LIFE INSURANCE
A TYPE OF SAVINGS ACCOUNT THAT USUALLY OFFERS HIGHER INTEREST BUT REQUIRES A FIXED TERM.
WHAT IS ..........
CERTIFICATE OF DEPOSIT (CD)
RETIREMENT ACCOUNTS FOR INDIVIDUALS WORKING IN NONPROFIT ORGANIZATIONS. (HINT: SCHOOLS OR THE GOVERNMENT).
WHAT IS.........
403(b)
THIS MEASURES THE CHANGES IN THE PRICE OF GOODS AND SERVICES; PURCHASES THAT YOUR HOUSEHOLD USES REGULARY.
WHAT IS ..........
CONSUMER PRICE INDEX (CPI)
THIS TYPE OF LOANS CHARGE EXTREMELY HIGH FEES OR INTEREST RATES.
WHAT IS .........
PREDATORY LOANS
WHAT IS .......
RENTERS INSURANCE
THIS RULE USED TO ESTIMATE HOW MANY YEARS IT WILL TAKE FOR YOUR MONEY TO DOUBLE.
WHAT IS ........
RULE OF 72
THIS IS THE TOTAL VALUE OF EVERYTHING YOU OWN MINUS EVERYTHING YOUR OWE.
WHAT IS ........
NET WORTH
THIS REQUIRES LENDERS TO DISCLOSE LOAN COSTS.
WHAT IS ..........
TRUTH IN LENDING ACT
THIS TYPE OF PERMANENT INSURANCE FEATURES FIXED PREMIUM, A GUARANTEED DEATH BENEFIT, AND A CASH VAULE THAT GROWS OVER TIME.
WHAT IS .........
WHOLE LIFE INSURANCE
THIS RETIREMENT ACCOUNT ALLOWS YOUR MONEY TO GROW TAX-FREE, WITH NO TAXES TAKEN OUT UPON WITHDRAWAL.
WHAT IS ........
ROTH IRA