The Personal Balance Sheet Challenge
This account, often tucked under the "Assets" section of your Personal Statement of Financial Position, helps you save for future medical expenses while offering tax advantages.
HSA
This type of fee, paid to the person who helps you "close the deal" is one that only home sellers face
RE Agent’s Commission
This debt repayment method saves the most money on interest by paying off the highest interest debt first.
What is the avalanche method?
This factor makes up the largest portion of your FICO credit score at 35%.
What is payment history?
This common title for a financial advisor is not regulated, meaning anyone can use it regardless of training.
What is a financial planner?
These are the "crystal ball" predictions—like inflation or investment growth—that help guide your financial plan, but unlike a fortune teller, they’re based on data.
Key assumptions
If you’re putting down less than 20%, this "insurance" ensures your lender sleeps well at night
PMI
This business form is the Beyoncé of business entities—independent, protected, and not paying taxes twice.
What is an LLC?
Want to avoid paying interest on your credit card? Just make sure you’ve paid in full by this all-important day.
What is the payment due date?
This certification proves you’re not just good with numbers, you’re a financial planning pro—granted by the AICPA to CPAs who know their stuff.
What is a Personal Financial Specialist (PFS)?
Financial experts recommend setting aside this number of months worth of both variable and fixed expenses in case of an emergency, especially if you're living solo.
Six months
These incentives, often offered by lenders, help reduce the interest rate on your mortgage in exchange for an upfront payment, essentially "scoring" you a better deal.
Points
This is money paid upfront to show a buyer's serious intent and is often confused with due diligence payments.
What is earnest money?
Add someone as this on your credit card and watch their credit rise—without them owing a dime.
What is an authorized user?
This certification, offered by the CFA Institute, requires passing three rigorous exams and focuses on portfolio management.
What is the Chartered Financial Analyst (CFA)?
This rule lets you split your income —half for needs, a little fun, and the rest for your financial future.
50-30-20 Rule
This body part, which sounds like it could help with a short-term mortgage plan, is ideal if you don’t plan to stay in the house for more than ten years.
ARM (Adjustable Rate Mortgage)
This IRS rule lets married couples sell their home and pocket up to $500,000 in gain—tax-free—because love and real estate win
What is the two-out-of-five rule under Section 121?
Being an authorized user may positively or negatively impact these two FICO score components.
What are payment history and utilization?
This kind of planning blends your dreams with your dollars, ensuring your finances align with your life goals
What is life planning?
If your debt-to-income ratio climbs higher than this percentage, you might find your financial future a little harder to digest.
45%
This First Lady and iconic horror villain share a name, and both have a role in securing homeownership by purchasing mortgages.
Fannie and Freddie
Because of the TCJA’s increased standard deduction and $10,000 SALT cap, many taxpayers no longer benefit from this common homeownership tax deduction.
What is the mortgage interest deduction?
If your card has a $5,000 limit and your balance is $2,000 at the statement date, this is your utilization rate.
What is 40%?
This AICPA-issued standard governs how CPAs should perform personal financial planning services.
What is Statement on Standards in Personal Financial Planning Services No. 1 or (SSPFPS No. 1)?