Money
what wages
what is the most common form of income
a feature offered by banks to keep your checking account from over-drafting
what is overdraft protection
Legislation enacted in 1968 requiring money lenders to be explicit about the true cost of credit transaction
what is the Truth in Lending Act
typically used for only a part of your life generally close to death, this policy pays a lump-sum benefit to your family or another beneficiary of your choice in case of death
What is Term Life insurance policy
The earnings given to the people who are shareholders of the comany stock
what are Dividends
easily accessible cash or degree of easy in which assets can be sold
what is Liquidity
what is the equation of the Rule of 72?
72/interest rate =how many years it takes to double investment
This is the amount of available credit you have relative to the amount of debt you carry
what is debt to Credit ratio
this is what you pay when something occurs also know as your co-pay on the health side of insurance
what is deductible
A financial instrument that gives its holder/owner the right to collect interest payments from the company of organization that has borrowed money
what is a Bond
what is given up when a choice is made
opportunity cost
interest added to principal also known as interest on interest is what
Compound Interest
Equifax, Trans Union and Experian are known as the
Three leading credit reporting agencies
known as a policy that is fits the entirety of a persons life, this policy is also a way to invest money and is also known as a permanent life policy
Whole-life insurance policy
Defined as a professionally managed investment vehicle that is made up of pool of funds collected from many investors and invested in stocks, bonds money markets and securities.
what is a Mutual fund
collection of taxes printing of money issuing of treasury bonds these are the role of what?
Treasury department
A short-term consumer loan secured by a taxpayer's expected tax refund
Tax anticipation loan
contact banks and cancel all credit cards/debit cards, review bank accounts to see if there are recent charges/purchases on accounts, contact all 3 credit reporting agencies is what you should do if this were to happen
what is become a victim of identity theft
Earthquakes, tornados and other natural disasters are known as this in the insurance world
what are Acts of God
A portfolio is a diversified set of investments held by an individual or institutional investor
what is an investment portfolio
money not allocated for food and shelter
What is Discretionary income
what is reconciling a checking account
known as your skin in the game this is used to guarantee the loan.
Collateral
known as types of Coverages on an insurance policy. One covers when you hit another driver/car and the other covers building and other things not associated with a car to car accident
The difference between Collision and comprehensive coverage
Short-term loans sold to operate the U.S. government. Amounts invested range from $1,000 to 5 million per investor
what are Treasury bills