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What does the acronym SMART in SMART goal mean
Specific
Measurable
Attainable
Realistic
Time-bound
bankruptcy
When you get a loan for a car or a house, what is included in the terms of the loan?
Down payment
Interest rate (APR)
Length of loan (term)
Which type of account requires you to leave the money in there for a set amount of time but gurantees you an interest rate for that time?
Certificate of Deposit
What is a command economy?
When the government controls the means of production and makes economic decisions.
a one-page introductory document sent with a resume
A cover letter
20% for savings
30% for Wants
50% goes to needs (example rent)
50 - 30 - 20 Rule
What is the cost of insurance each month?
Which type of account has a low interest rate but your money is easily accessible with a check or card?
Checking account
What does it mean if a good is rival?
If one person uses that good, another person cannot use it.
What is the last part of your resume?
References
Amount of money set aside in saving for unexpected expenses
Emergency Fund
This type of mortgage has the same interest rate for the entirety of the loan
Fixed rate mortgage
What is the central bank of the United States
the Federal Reserve
What is the relationship between price and quantity supplied?
As the price increases, the quantity supplied increases.
is a three-digit number, typically ranging from 300 to 850, that represents your creditworthiness
Credit Score
When starting your budget you need to figure out how much money you take home. What is this called?
Net income
If you want to invest but you want to reduce your risk, what can you do?
Diversify, or hold on to your investments for a longer time
What is a bond?
A loan that will be paid back in the future
Second hand sales, non-market transactions, and purely financial transactions do not count in the GDP
What does FAFSA stand for?
Free Application for Federal Student Aid
How much of your income should you put into a retirement account?
10%
Which type of business involves two or more people share profits and liability?
Partnership
What is earning interest on your initial money (principal) plus the accumulated interest from previous periods
Compound interest
The government raises taxes. What type of policy is this?