Ch. 1-2
Ch. 3-4
Ch. 5
Ch. 6-7
Ch. 8-9
Ch. 11-12
100

A system by which goods and services are produced and distributed

Economy

100

What is a Budget?

A plan for your money

100

DAILY DOUBLE:

What does PhD stand for?

Doctor of Philosophy

100

The promotion of a product or service by identifying it with distinct characteristics (usually associated with public perception, quality, or effectiveness)

Branding

100

If you were found at fault for a car accident, you would be considered to be _________.

Liable

100

Your Resume is your ____________ with an Employer

First Impression

200

A financial liability, or obligation, owed by one person, the debtor, to another, the creditor is called ______.

Debt

200

Would a car or truck tend to depreciate in value or appreciate in value over time, and why?

Depreciate

figure it out

200

A form of federal or state financial aid that does not need to be repaid; typically based on financial need

Grant

200

To buy an item with credit; paying over time

To Finance or Financing

200

What type of investment is less risky generally; stocks or bonds? Explain why

Bonds are less risky since they're usually backed in stronger ways (government), although they usually don't grow as much.

200

Which type of tax usually comes directly out of your paycheck from an employer?

Income Tax

300

A type of bankruptcy where individuals or businesses can eliminate most of their debts by “liquidating” qualifying assets to repay debts.

Hint: Chapter ????? Bankruptcy

Chapter 7 Bankruptcy

300

Explain what a Zero-Based Budget is

A cash flow plan that assigns an expense to every dollar of your income, wherein the total income minus the total expenses equals zero.

300

How often should you fill out the FAFSA?

Once every year

300

The process of quantifying costs and benefits of a decision

Cost-Benefit Analysis

300

Which term is described by splitting portfolio investments up between various industries and companies, in order to reduce risk?

Diversification

300

True or False:

All non-profits are considered to be charities, but not all charities are non-profits.

False

400

Saving money over time for a large purchase; usually monthly savings

Sinking Fund
400

What are two things that credit score can affect your ability to do?

Loans
Insurance
Rent Prices
Credit Cards
Cell Phone Plans

400

Calculation that measures the profitability of an investment by comparing its final value to its initial cost.

Return on Investment

400

A term that is defined by the difference between the wholesale price and retail price

Markup

400

What term describes the type of coverage in an insurance agreement?

Policy

400

What does IRS stand for?

Internal Revenue Service

500

DAILY ADDITIONAL 300

Explain the concept of Compound Interest

Interest paid on interest previously earned

500

In what order and how does the Debt Avalanche method recommend going about paying off loans?

Highest to Lowest Interest Rates

500

What are two of the three things that the FAFSA can help you apply for?

Work Studies
Financial Aid (Scholarships/Grants)
Student Loans

500

Retail store where people sell items and the owner of the shop gets a percentage of the sale

Consignment Shop

500

Which type of Retirement Account uses post-tax dollars, and is usually managed by your employer.

Roth 401(k)

500

Which tax form indicates to an employer an employee’s tax situation, so that employers can withhold the correct amount of income tax from your paycheck.

W-4 Form

600

Name Ramsey's Five Foundations IN ORDER

1. Setup a $500 Emergency Fund
2. Get outta debt
3. Pay for a car with cash
4. Pay for college with cash
5. Build wealth and Give wealth

600

What are the "Four Financial Walls?

Food
Shelter
Utilities
Transportation

600

What does FAFSA stand for?

The Free Application for Federal Student Aid

600

What is one reason we discussed that smaller businesses have to sell product at higher prices compared to their wholesale price?

Less inventory means less opportunity to save $ by buying in bulk

Less space means saving on things like payroll & mortgage

Less sales volume means it’s harder to meet operating costs

Less sales volume also means that markup is higher to make profit

600

What is a Growth Stock Mutual Fund?

A fund in which you go in on stocks with other investors, that being a mutual fund.

ALSO KEY: Specifically, these invest into companies that invest their money more into their own growth rather than into dividends.

600

Explain the difference between a non-profit and a charity.

A non-profit organization is more of a tax-specific title for any given business, regardless of their purpose, while charities are aimed at helping others, or having some sort of "charitable" purpose.