Personal Budgeting and Credit
This would be the first step of personal budgeting.
What is listing all of your bills that you need to pay?
This refers to the stock market when the overall stocks have been trending down for several months or years.
This tax system, which the United States uses, occurs when the more money you make, the more taxes you pay.
What is a Progressive Tax System?
This type of payment method may cause long-term issues because of high interest rates and hidden fees.
What is a Credit Card?
Give me one disadvantage of a debit card.
What is...
Does not aid your credit score
If you do not have the available funds, you cannot make the purchase
Typically, there are little to no reward programs with debit cards
This is when stocks are pooled together by a group of investors and they hire a stockbroker to manage the account.
What is a mutual fund?
This is a retirement account that is set up by your place of work and is invested in the stock market after being matched by your company.
What is a 401k Account?
These savings account have a much higher rate of interest than that of a standard savings account.
What is a High Yield Savings Account?
In the United States, this is how education relates to how much money someone makes.
The higher education you obtain, the more money you will make on average.
This is the net profit or net loss at the end of your investment period.
What is the Rate of Return?
This is a type of interest that builds not only on your principal investment but it also grows on your interest.
What is Compound Interest?
This type of account typically pays the lowest interest rate.
What is a checking account?
This is why the federal government would raise the interest rates.
This term refers to the spreading of your funds across several different stocks to try and reduce the overall risk of your portfolio.
What is diversification?
These are the three federal programs that are a part of FICA.
What is Social Security, Medicare, and Medicaid?
This part of the federal government is responsible for raising and lowering the interest rates.
What is the Federal Reserve Board?
This term refers to the contributions made by an employer toward an employee's retirement account.
What is a Pension?
This is the term for a portion of a company's profit paid to stock holders.
What is a dividend?
Name at 3 of the states that do NOT have state income tax.
What are Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming?
Name all four of the main areas a bank will look at BEFORE they give you a loan.
What is...
- Outstanding Debt
- Credit Score
- Number of Credit Lines Open
- Payments Past Due