Personal finance
A percentage paid to a lender for the use of borrowed money is called
interest
What has historically had the highest rate of return over long periods of time?
Stocks
What does personal finance refer to?
Management of an individual’s financial resources
What is the money you can spend, after bills are paid, from your paycheck called?
something, typically money, that is owed or due
Liability
What is a bear market?
A time when stock prices are falling
What does Dave Ramsey hate that 80% of Americans have?
Debt
Groceries are considered what type of expense
Variable
What is a bull market
stock prices consistently rising
In case you need cash, you should ALWAYS have an
emergency fund
What investment strategy would you recommend to a young person? conservative, moderate, aggressive, etc?
Aggressive
Ideal for everyday transactions
Debit card
How much should you save/invest per paycheck?
10%-20%
What is considered free money for a full-time employee?
401k
ROI stands for
Return on investment
Rent is an example of what type of expense
Fixed
What's it called to have multiple types of investments?
Diversification
The S in SMART goals?
Specific
Collection of separate assets that have monetary value
Financial Portfolio
Resources with economic value, what you own
Assets
What's a pool of investments called?
Mutual fund
What is the 5th Foundation
Build wealth & give
Compounding interest
Richest Person in America?
Elon Musk
What is the name of the symbol to look up a company's stock?
Ticker