Personal Finance
The term for money you earn from working a job?
What is income?
The amount of money you owe on a loan or credit card?
What is debt?
This is a form of investment in which you buy a share of a company
What is car insurance?
This form you use to report your income and calculate taxes in the U.S.
What is a W-2
or What is a 1099
This is a written plan for your income and expenses.
What is a budget?
This number is used by lenders to assess your credit worthiness?
credit score
A type of investment where your money is lent to the government or a company for a fixed interest rate overtime?
What is a bond?
What is homeowners insurance?
This government agency is responsible for collecting taxes in the United States.
What is the IRS (Internal Revenue Service)?
This type of bank account allows you to deposit money and withdraw it as needed.
What is a checking account?
What is interest or penalty?
This is a type of retirement account where your contributions grow tax-deffered.
What is an IRA (Individual Retirement Account)
This type of insurance provides income if you are unable to work due to an illness or injury.
What is disability insurance?
The money you pay the government based on your income.
What are income taxes?
A tax that takes a larger percentage of income from high-income groups than from low-income groups.
What is progressive tax?
What is a loan?
This type of mutual fund invests in a variety of stocks and bonds to spread risk.
What is a diversified fund?
This type of insurance protects your life and provides financial support to your beneficiaries after you pass.
What is life insurance?
A tax that takes a larger percentage of income from high-income groups than from low-income groups.
What is progressive tax?
This type of account allows your money to grow tax-free, and you can withdraw it for qualified medical expenses without penalty.
What is a Health Savings Account (HSA)?
The 4 C's of credit
What is collateral, capacity, capital and character?
This type of investment fund pools money from many investors to buy a diversified portfolio of stocks, bonds, or other securities, and is typically managed by professionals.
What is a mutual fund?
This type of insurance provides financial protection in the event of damage to your vehicle, regardless of who is at fault.
What is collision insurance?
This tax is typically deducted from your paycheck and is used to fund Social Security and Medicare programs.
What is FICA (Federal Insurance Contributions Act) tax?