Insurance
Amount of money a policyholder is charged for an insurance policy
What is a Premium
Agency that collects information on how promptly people and businesses pay their bills
What is a Credit Bureau
Taxpayers must file Form 1040 to determine how much tax they owe or are owed for a tax refund by this date
What is April 15th
Cash and items of value that can easily be converted to cash
What are Liquid Assets
Share of ownership or equity, representing a fractional ownership in a company
What is Stock
An organized, long-range planning process for protecting yourself, your family, and your property
What is Risk Management
Should be a last resort because it severely damages your credit rating
What is Bankruptcy
Employees receive this in January to summarize their earnings and taxes withheld from the previous year
What is W-2 Form
Reports the actual spending of a household
What is Cash Flow Statement
Reduces risk by distributing your assets within each of your allocation classes
What is Diversification
Coverage for a place of residence and its associated financial risks, such as damage to personal property and injury to others
What is Homeowner's Insurance
Line of credit in which loans are made on a continuous basis and the borrower is billed periodically
What is Revolving Credit or Open-End Credit
Responsible for enforcing and administering federal tax laws, processing tax returns, performing audits
What is the Internal Revenue Service (IRS)
The amount a person or household has to spend
What is Disposable Income
Pools money from many investors to purchase a diversified portfolio managed by professional fund managers
What is a Mutual Fund
Set amount that the policyholder must pay per loss before the insurance company will contribute toward the covered item
What is a Deductible
Number that reflects the information in your credit report
What is Credit Score
Employees complete this form when starting a new job to determine how much their employer should withhold in taxes
What is W-4 Form
The difference between what you own and what you owe
What is Net Worth
The most basic form of ownership for a corporation that typically comes with voting rights
What is Common Stock
Acts as a paycheck replacement to protect your income if an illness or injury (on or off the job) prevents you from working
What is Disability Insurance
Agreement that you will be responsible for a loan if the borrower fails to make payments
What is Cosigning
Imposed on specific goods and services, such as gasoline, cigarettes, and alcoholic beverages
What is Excise Tax
Prepared to determine your current financial position and/or net worth
What is a Balance Sheet
Distribution of money, stock, or other property that a corporation pays to stockholders
What are Dividends