Money Management
This is the process of tracking income and expenses to manage finances.
What is a budget?
A plastic card that is a form of borrowing and usually involves interest and other charges.
What is a credit card?
A place that financial institutions offer customers to store valuable items or documents.
What is a safe deposit box?
The phrase "Don't put all your eggs in one basket" describes an investment strategy.
What is diversification?
A means of protection from financial loss like a car accident.
What is insurance?
The pay you receive after taxes and deductions.
What is net income? or net pay?
Money paid for the use of money lent.
What is interest?
This occurs when a bank can't process a check due to insufficient funds.
What is a bounced check?
This is the largest equities market in the world.
What is The New York Stock Exchange?
This is what you pay for insurance coverage.
What is a premium?
An unplanned purchase by a consumer.
What is impulse buying?
The cost of credit expressed as a yearly percentage.
What is the annual percentage rate? or APR?
With this type of protection, your checks will be covered even if you have insufficient funds in your checking account.
What is overdraft protection?
Before a business can issue stock, it must register with.
What is the SEC or the Securities and Exchange Commission?
A specified amount of money that the insured must pay before an insurance company will pay a claim.
What is a deductible?
This budget category requires you to put money aside first from your paycheck before paying your expenses.
What is Pay Yourself First or Saving?
Looks like a credit card but when you use it the money is subtracted immediately from your checking account.
What is a debit card?
This is where you record all of the check and cash transactions to your checking account.
What is a check register?
A formula that calculates how long it takes an investment to double.
What is Rule 72?
This covers a specific term and only pays a death benefit.
What is term life insurance?
The value of your next best option - what you are giving up.
What is opportunity cost?
When a person brings an item to a pawnshop to obtain cash, the transaction is considered a ___________ loan.
What is a collaterized Loan?
This organization insures your bank account up to $250,000.
What is the FDIC? Federal Deposit Insurance Corporation
A profit from the sale of an investment like stocks.
What is a capital gain?
This type of insurance is required for everyone from one day old to 100 years old.
What is health insurance?