Money management
Expenses can be _____ or _________
Fixed, Variable
What is a portfolio?
A collection of money.
What is the difference of a short term goal and a long term goal?
What is a 401K plan?
A 401K plan is an employer-sponsored retirement savings account that allows employees to contribute a portion of their paycheck to invest for the future.
What is the name of the pet dinosaur on the TV cartoon “The Flintstones”
Dino
What is the difference between fixed expenses and Variable expenses?
Fixed Expenses stay the same every month, and variable expenses change month to month.
What is a checking account?
a checking acount is a type of bank deposit account designed for daily high-volume transactions.
What are two examples of a short-term goal, and two examples of a long-term goal?
Short-term: saving for a dog, saving for vacation etc.
Long-term: saving for a car, saving for a house etc.
Who can open a 401K account?
An employer.
What is the first Pixar movie?
Toy story
When budgeting, income should be _____.
Equal.
What is a savings account?
A savings account is an account that manages your money for the long term.
How would a 19 year old collage student spend their money?
On college books, food, gas, rent, etc.
What is an individual retirement account (IRA), and who can open this account?
An individual retirement plan is a tax-advantaged personal savings account that allows individuals to set aside money for retirement.
Anyone can open this account.
What material was first used to cover baseballs?
Cowhide
What is debt?
When money is owed or due.
What is a Certificate of Deposit (CD)?
It is a safe, low-risk savings account that pays a fixed interest rate, often offering higher rates than traditional savings accounts.
What are the four steps to identifying and analyzing your personal finances?
1. Calculate total income from all sources
2. Calculate total expenses
3. Track the statistics and notice trends
4. Make informed decisions based on trends.
What are mutual funds?
A mutual fund is an investment vehicle that pools money from many investors to purchase a diversified portfolio of securities like stocks, bonds, or short-term debt.
What year did Facebook launch?
2004
Why would someone pay using credit?
They can't afford to make a big purchase, so they borrow and pay back the money.
What are two advantages of a checking account?
Direct deposit and no monthly fee.
Why is tracking money important?
It can reduce debt, correctly budget, and have goals, etc.
Who can open a mutual funds account?
You or a financial advisor.
How many eyes do bees have?
5