Credit
What is the main difference between a debit and a credit card?
Debit- Money you own
Credit- Money you owe
A ____________________ is an individual/company who loans money.
Lender
Deut. 15:6
God's Promise
Two goals of retirement
To not be a burden on others
What a person leaves behind when they die is known as a:
Estate
What is the form of collateral for most mortgages?
Property
When you stop paying a loan on time, you ________________ on the loan.
Romans 13:6
Good Steward
A specified number of years necessary for an employee to be enrolled in a retirement plan before the benefit can be paid out is the ______________ period.
Vesting
A person who has died without having made a will:
Intestate
An index of a person’s overall creditworthiness
Credit Score
What is the form of collateral for most mortgages?
Property/ House
Luke 19:23
Invest
A __________ is a retirement account where the contribution is matched by the employer.
401k
The person you appoint to carry out your will:
Executor
Your FICO score is calculated using these factors:
Payment History
Credit Mix
New Credit
Credit Utilization
Length of Credit History
The two types of savings bonds are:
Series EE & Series HH
2 Corinthians 9:7
Cheerful Giver
An __________ is a retirement account with tax benefits that is held in a financial institution.
IRA
The person you name to care for your minor children, pets, or 30 house plants:
Guardian
The 5 C's of Creditworthiness
Character
Capacity
Capital
Collateral
Conditions
What investment do financial advisors consider to be risk free, and why?
Savings bonds; they are backed by the government.
Proverbs 22:7
Debtor is slave to lender
_____________ Security is a government-mandated retirement and disability plan, that we should not rely on to fund our retirement.
Social
If you die without a will the state will appoint a ___________ to perform the same functions:
Administrator