Show:
Time Value Money
Credit and debt
Taxes
Budgeting
Financial Concepts
100

What is the rate of return or fee charged for the use of money over time?

Interest rate

100

What is the ability to borrow money based on trust that you will repay it.

Credit

100

Who pays taxes?

We all do!

100

What is it called when you allocate 50% of your after-tax income to needs, 30% to wants, and 20% to savings and debt repayment.

50/30/20 Rule

100

What is the principle that states that the higher the potential return of an investment, the higher its associated risk

Risk and return

200

What is worth more today than it will be in the future

Money

200

What are the three major credit bureaus?

Experian, TransUnion and Equifax

200

What do property taxes pay for?

Schools, fire departments and police.

200

List 3 things that you would want on a budget.

Rent, phone, utilities, clothing, insurance.

200

What is the concept where a dollar received today is worth more than a dollar received tomorrow?

Time Value of Money

300

What does Time Value of Money Calculate?

Future value of money.

300

What is money that is owed to another person or institution.

debt

300

How long have taxes been around?

Over 5,000 years

300

What does a budget show you?

  • how much money you make
  • how you spend your money
300

What is the process of creating a plan to manage your income and expenses?

Budgeting

400

What is the general increase in prices and fall in the purchasing value of money.

Inflation

400

What shows your credit activity, including your payment history with each of your credit accounts.

Credit report

400

What does the government ask us to pay taxes on? Be specific.

Money we earn, things we buy, and property we own.
400

What is a summary of your income and expenses for a given period of time.

Budget

400

What is the movement of money into and out of your account?

Cash flow

500

What is the total amount of money entering and leaving a business over a specific period.

Cash flow

500

What is money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt.

Interest

500

What tax is levied on individuals and organizations and cannot be shifted to another payer?

Direct Tax

500

What does SMART stand for?

  • Specific
  • Measurable
  • Achievable
  • Relevant
  • Time-Bound 
500

What is the ease and speed with which an asset can be converted into cash?

Liquidity