General
SMART goal
What is Specific, Measurable, Achievable, Relevant, and Time-bound?
What is part ownership of a company?
Three-digit number that determines credit worthiness.
What is a credit score?
Net pay calculation
What is gross pay minus taxes and deductions?
6 months of expenses
What is an emergency fund?
Opportunity cost.
Compound interest
What is interest that gains interest on itself?
The money given to insurance companies in exchange for risk protection.
What is a premium?
Form that tells employers how much money to withhold for taxes.
What is a W-4?
Fixed expense.
What is a cost that remains the same from month-to-month?
Loan sharks, title loan businesses, payday loans.
What is a predatory lender?
The spread of risk across multiple investments.
What is diversification?
The government borrows money to fund public projects
What is a municipal bond?
Overtime pay rate.
What is time and a half?
50/30/20 Rule breakdown
What is 50% needs, 30% wants, 20% savings?
The study of how people react to money based on those their emotions, biases, and upbringing.
What is behavioral economics?
Retirement plan that allows you to withdraw money in the future, tax-free.
What is a Roth IRA?
Factor that affects your credit score the most.
What is your payment history?
FICA Taxes
What is Medicare and Social Security?
Purpose of a spending plan.
What is to keep track of income and expenses to make sure you aren't overspending?
FDIC insurance coverage.
What is $250,000?
Example of a high risk investment.
What is crypto, individual stocks, start-ups...
The money you pay out of pocket before insurance kicks in.
What is a deductible?
Reduces you taxable income.
What is a tax deduction?
Dollar-cost averaging.
What is saving/ investing the same amount money every month, regardless of how the market is?