Money/Budgeting
MOST forms of income (including interest earned on investments) must be reported to this Federal Agency for tax purposes
IRS (Internal Revenue Services)
A place to keep a written record of your transactions both withdrawals and deposits.
Check Register
A person who maintains their employment but finds themselves unable to pay their bills is advised to file Bankruptcy Chapter_____ in order to come up with a plan to pay off the debt and be able to keep their assets.
13
How many years it takes an investment to double can be calculated by dividing THIS number by the interest rate.
72
The amount of money that has to be paid for an insurance policy.
Premium
On you pay stub- the amount of money that is able to be deposited after all deductions are subtracted is known as this.
Net Pay, Net Income, Net Earnings
Savings product that earns interest on a lump sum for a fixed period of time. The money must remain untouched for the entirety of their term or risk penalty fees or lost interest.
CD (Certificate of Deposit)
When opening a credit line, it is important to know the APR because it tells you how much of this you will be paying.
Interest
This is the largest and oldest equities market in the world.
NYSE (New York Stock Exchange)
If you were to get into a car accident the first thing to do would be to report the accident and then file this with your insurance company.
A Claim
Federal entity that regulates monetary policies including loan interest rates.
The FED or The Federal Reserve
The 2 federal Agencies that insure Banks and Credit Unions up to $250,000 per account.
FDIC and NCUA
A person has a car loan they make monthly payments on. Their loan is considered to be a ____________ and _________________ loan.
secured / installment
When a person invests by purchasing these, they are basically loaning money to that company or to the government.
Bonds (Corporate Bonds, Government Bonds)
You have a $2,000 loss. Your insurance company pays you $1,500 on the claim for the loss. The $500 the insurance did not pay is a result of your policy having this
deductible
This phrase means to set aside money for savings each month BEFORE paying any other bills in order to build wealth in the future
Pay Yourself First (PYF)
This is an optional service that will pay checks when their is not sufficient funds in the checking account. Most banks will charge for this service.
Overdraft Protection
A type of loan that should be avoided at all costs due to the higher interest rate charges.
Pay Day Loans - Stay AWAY!
If you purchased 100 shares of Microsoft stock at $50 per share and then sell it at $100 per share a year later, you would have this of $5,000. (2 words)
Capital Gain
2 types of permanent life insurance that offer a cash value and accrues interest (dividends)
Whole and Universal
To calculate THIS you would need to take the total of your assets and subtract the total of your liabilities.
Net Worth = (What you own- what you owe)
While your money is in a savings account at a bank, Banks use your money to make these for other consumers and businesses.
loans
These are the 3 leading credit reporting agencies a consumer can contact to receive information about their current credit score.
Equifax, Transunion, and Experian
The government just released a report concerning the negative effects of using ABC Aspirin as it could cause cancer. This news will probably influence stock investors to do this with their shares.
Sell them before the price goes down
In general when dealing with insurance policies and the cost of insurance - what is the biggest shared factor that would increase your costs with any insurance?
Degree of Risk, or Risk