Credit
What is a credit score?
What is on April 15th?
An index of the top 500 companies in the U.S
What is the S&P500?
A bias that is based in fear of loss over aquiring gain.
What is loss aversion?
What ATM stands for.
What is Automated Teller Machine?
Filing for this legal status after overwhelming debt stays on your record for more than 10 years.
What is Bankruptcy?
This form is used by employee's to report their income to the IRS
What is a W-2?
An investment fund that is tax free by the time retirement is reached
What is a Roth IRA
A behavioral fallacy that influences an individual to commit to a decision due to the time and resources already spent.
What is sunk cost fallacy?
A system that schedules monthly payments on large loans to be paid off on a target date.
What is amortization?
Making only this kind of payment on your credit card means you'll likely pay interest on the remaining balance.
What is the minimum payment?
A tax system that impacts high-income earners more than low income earners
What is progressive taxing?
This investment stradegy involves pooling money from many investors to buy a diversified portfolio of stocks.
What is a mutual fund?
A cognative bias that puts an irrational greater value on things the individual already owns.
What is the endowment effect?
A traditional name for coins and bills.
What is flat money?
The three major credit bureaus in the United States
A credit for families with dependant children under the age of 17.
What is the child tax credit?
A common animal also used to describe when investors are pessimistic in the state of stock market.
What is a bear market?
This bias makes investors buy assets simply because others are, often creating a bubble.
What is herd behavior?
This type of loan is backed by collateral, like a car or house.
What is a secured loan?
This federal law entitles you to one free credit report per year from each major credit bureau.
What is the Fair Credit Reporting Act?
A tax levied on property transfered at death
What is estate tax?
This term refers to the profits from the sale of an asset when it's sold for more than it was bought for.
What is capital gain?
This bias occurs when individuals believe their intuition and mental models are more accurate than data and statistics.
What is the Illusion of Control?
A box that legally binds banks to be straightforward about the full offer of a loan to avoid predatory lending.
What is the Schumer Box?